Weekly Range Update

bitfinexUSD 1439 Min 59 Sec #5 2016-05-30 07_59_47.790XBT/USD weekly range.forecast $495-$570 | daily moving average is bulllish after the strong spike. Support is at VWAP near $460. Volatility has increased and after an initial bearish trap XBTUSD rose well above the VWAP, RSI is high and it hadn’t been in overbought territory for a while this should increase the probability to see a retracement from here. Strong resistance is always at around $570.
Although support is at VWAP near $460 i think that $495 should hold in case of a retracement.

Italian version here at bitchanger

 

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