XBT / USD weekly price range forecast $760-$800 | Even this week the support/resistance levels remain the same, the main resistance is the second dev. line above the VWAP at $800 while the support is still valid the VWAP at $720 approximately but with these levels of low volatility i think it will be support the first dev.line above the VWAP at $760. This week we’ll see if there will be enough energy to break the $800 and reach the next resistance at $840 by year-end.
The average of the daily RSI oscillator is in overbought territory. The RSI on the weekly chart is slighty overbought just above the threshold of 70, despite being overbought for some continuous weeks i think that a maximum on the weekly chart has not yet been done.
In case of extreme drop the support is the price area between 495 and 590 US.
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