Weekly Range Update

Daily Chart XBTUSD

XBT / USD weekly price range of $820-$960 | The main resistance is the third price deviation line above the VWAP at $ 960 which also corresponds to an important resistance on the weekly chart that I showed in the previous update; the main support is the VWAP at approximately $750 even though I think it should work the first positive deviation line above the VWAP at $820. This week we’ll see if there will be enough strength to make a new high at $960 to conclude the year in the best possible way.

The average daily RSI oscillator is in overbought zone. The RSI on the weekly chart is also overbought and reached the value of 79, at this point there is a realistic chance that on the weekly chart a top is forming.

In case of extreme drop the support is the price area between 530 and $ 620 US.

Italian update here at bitchanger.com

2 thoughts on “Weekly Range Update

    1. i’m looking the monthly chart trying to understand where it might go, i suspect a move to 1300 is possible during the first part of 2017

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