Weekly Range Update: again a strong market

XBTUSD daily chart

XBT/USD weekly price range 1025$-1270$ | Also this week the cross XBTUSD has been stronger than expected so I decided to propose something different for this week about the calculation of the levels of our 60 days volume VWAP. The resistance zone is wider and goes up to 1270$, the VWAP is slightly moving up and now is at 945$ though more probably the intermediate level at 1025$ should hold any violent intraday corrections. The ALMA average remains firmly upward.

The RSI oscillator is returned in the overbought zone and essentially is confirming that the market is strong but i still think that an intermediate top might form soon, not eventually a yearly top because i expect higher prices later this year.

About the calculation of the VWAP deviation lines I doubled the volatility coefficient for this week because since few weeks the volatility is high and often this market has broken through my resistance lines. Just for curiosity the third deviation  line pass at 1432$.

In cases of extreme fall the support area is 665-775 US dollars.

ITA version here.


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