Short Term Update

imageThe updated chart shows how the VWAP dynamic support (calculated with two months of data) coincides with an old resistance now turned support. I think this will be a key support to be observed in the coming days and will tell us if the bullish move has finished or not.

Because of high volatility the support area is big and XBTUSD is right in the middle, RSI is giving a sell signal this doesn’t mean a drop instead XBTUSD might go lateral for few weeks before resuming the uptrend. Any weakness below $580 would be interpreted as a definitive end of the current big upswing.

Italian version here at bitchanger.

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5 thoughts on “Short Term Update

  1. Chris Ank

    Thanks for the update! Would you still say 580-600 is a good long term buying opportunity? Are you still long?

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