Weekly Range Update

eng
Daily Chart XBTUSD @bitstamp

XBT / USD weekly range $598 – $634 | ALMA daily moving average is bullish and the main resistance is the second price deviation line above the VWAP @$630 while the support is always the VWAP @$570 although i think it will remain above 595$ also this week.

A rise above $630 is close for the same reason i told you severa times in the past weeks, XBTUSD is slowly accumulating and the weekly ALMA moving average already turned up but its slope is very low for now, in the upcoming weeks there should be a final breakout above $630.

The RSI oscillator has moved to an equilibrium point around 50 and there is enough room for more upside movement till the overbought zone.

In the event of a sharp fall, as said many times is always very valuable the support around $420.

Italian version here at Bitchanger.com

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