Weekly Range Update

XBT/USD weekly range.forecast $435-$460 | daily moving average is bullish after the upmove of May 6. Strong support is always at $435 near the short term VWAP and there is also a recent double bottom. In case of another upmove strong resistance is at $485.

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With my metatrader 4 price regression channels i’ve a similar picture with support at $424-435 and resistance at $463-475 price zones. Yellow line is the same average i use on sierrachart, ALMA moving average.

BTCUSDDaily

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One thought on “Weekly Range Update

  1. An Avid Coiner

    It looks like more overhead resistance could clear between May 16 and May 22 based on Gann harmonics. Those dates could represent a new paradigm in the same way that my 4/20 call represented the shift in paradigm from the $420s to the $450s. But overall, we’ve got a much better chance of seeing serious price action in the beginning of June when other global markets should get more volatile.

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