XBT/USD weekly range.forecast at $425-$460 | daily moving average is bearish. Resistance is at VWAP near $445. Volatility increased but i think that we are seeing a bear trap, i expect an upmove that will carry XBTUSD just above the VWAP, RSI is low and it hadn’t been in oversold territory for a while this should increase the probability to see a rebounce from here. Strong resistance is always at around $480.
Generally speaking i think that there are no reasons to see the recent drop as a dump, in my opinion bitcoin fundamentals are looking strong and there is a lot to be bullish about this summer with segwit coming and halving.
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