Weekly Range Update

Daily Chart XBTUSD @Bitstamp

XBT/USD weekly range $ 580-$ 630 | ALMA daily moving average is going flat after many days of good advance and the main resistance is now the first positive deviation line of the VWAP at around $ 630.

I think the cross XBTUSD will remain below $ 630 this week with a second resistance at about $ 680. The weekly ALMA moving average is apparently turning up but i don’t expect a break above $630 because also of an high reading of the RSI oscillator that is in overbought territory above the 70 threshold value..

I said in many previous updates that in case of a volatility spike due to another price crash the deal is to buy slightly above $420.

Italian version here at bitchanger.com


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