Weekly Range Update

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XBTUSD daily chart

XBT / USD weekly price range forecast 740$-970$ | The main resistance is the first positive deviation line of the  VWAP at 970$, about support I think is valid the first negative deviation line at about 740$.

I have doubts about whether or not the VWAP can hold the price for a second time after stopping the previous drop from the high of January 3. I believe that during this month we might see the price slowly drifting down to 740$.

The average daily RSI oscillator moved below the overbought zone technically giving a sell signal but for the moment I decided to ignore it waiting to see if the price will remain above or not our main support, the VWAP.

In case of extreme fall the support is the price area between 580 and 660 USD.

Italian version here at bitchanger.com

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