Weekly Range Update

XBTUSD daily chart - VWAP Lines
XBTUSD daily chart – VWAP Lines

XBT / USD weekly price range is 1050$-1230$ | The market moved back to a strong position firmly above the VWAP level and it is close to a first level of resistance at 1140$, I think that there is room to reach the second resistance level at 1230$.

The average ALMA returned bullish and the RSI has moved away from the oversold area exactly what I was expecting last week: a positive reaction.
About altcoins i know that many of you are interested but i consider them too small for a proper and reliable analysis, in fact also bitcoin isn’t enough big; because of this for the time being there will be sporadic updates about altcoins.

In cases of extreme fall the support area is 670$-860$.
ITA version here.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s