XBT / USD weekly price range is 1425$-1720$ | I’ve included a short-term view of the last 6 days, i think that XBTUSD will continue to follow the resistance and support lines of the 3 days VWAP.
This market, however, seems to remain very bullish together with all the other altcoins.
I consider 1700$ a good resistance level for this week.
The daily ALMA moving average is bullish without any signs of slowing down and the RSI is in the overbought area. When a market is so strong in my opinion it doesn’t make much sense to consider over-bought signals to open a short position because they aren’t reliable enough when the underlying trend is so bullish.
In case of a catastrophic event the support area is now 750$-1050$.