XBT / USD weekly price range 1125$- 1300$ | The range for this week is intended valid until the SEC decision of next 11 March whether to approve or not the first bitcoin ETF; this is an event that can create additional volatility that can push this market well beyond the 1300$ resistance or generate a violent correction down to the VWAP, now at ~950$.
The ALMA moving average remains firmly upward; as you can see in the left attached chart in a strong uptrend hardly the minimum of the day is below this reference average I use.
The RSI oscillator is in overbought zone and essentially confirms that the market is strong but still a top could be in the making. There is also a strong resistance in the weekly chart around 1370$-1400$.
In cases of extreme fall the support area is updated to 610-740 USD.