Weekly Range Update

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Daily Chart XBTUSD

XBT / USD weekly price range is $705-$750 | ALMA daily moving average is still rising despite a slight profit taking happened during last weekend that does not surprise me, very often amateur investors lose their patience or got scared with the result to sell and cash in their profits; in speculation the hardest thing to do is cut your losses short and let your profits run while amateurs tend to do the opposite.

The main resistance is always the third positive deviation line above the VWAP  at $800 and i still consider valid as support valid the first positive dev. line above VWAP at $705 while the VWAP is at $660.

The daily RSI oscillator reacted after a test to the midpoint value of 50.The RSI on the weekly chart has entered overbought territory by a few margin but not yet completely saturated.

In cases of extreme drop support is now at $465.

Italian version here at bitchanger.

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4 thoughts on “Weekly Range Update

    1. sometimes i look the eth chart, for what i see now it looks bearish, nice support at 5.75 usd on the weekly chart. Support price zone 5.75-8.00 USD

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