Mid-Week Range Update

XBTUSD Daily Chart @bitfinex
XBTUSD Daily Chart @bitfinex

XBT/USD range till sunday $650-$770 | daily moving average is bulllish and main support is at VWAP near $540 but as i said earlier this week when the market is strong usually the first positive deviation line is very good as support, now at $650.

The odds now are for a retracement, i suggest to observe market behaviour around the alma moving average and first vwap dev.line both at around 650 dollars.

6 thoughts on “Mid-Week Range Update

  1. Michael

    Thanks for all the updates! Much appreciated with all this crazy price action. What about your own positions? Are you holding? Buying more? Selling?

  2. Mike

    You bet the chinese exchanges are responsible for this. OKcoin and BTCChina are the ones leading. Keep an eye out for those exchanges if you are daytrading.

  3. Frank

    Hi Enky, in a previous post you said you might close your long position at 750. What’s your view at this point in the market. Did you change your exit point?

  4. bc

    Key Points

    Bitcoin price continued to move higher and settled above the $700 mark against the US dollar.
    Many traders are in disbelief that the price surged this high in a short span of time.
    I think BTC/USD is due for a correction now looking at the weekly chart (data feed from Bitstamp).

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