Weekly Range Update

XBTUSD Daily Chart Bitfinex
XBTUSD Daily Chart Bitfinex

XBT/USD weekly range.forecast $610-$735 | daily moving average is bearish and main support is at VWAP near $610. XBTUSD is resisting above the VWAP after a quick test below the support i mentioned in the previous update around $585, support broken but quickly regained.

Resistance price zone is $735-860, i think that XBTUSD should remain above $610 but if it starts to spend too much time below it then i think that a new low is ahead in the support price zone $485-$610 with the RSI oscillator that which will probably become oversold by then.

Italian version here at Bitchanger


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