Weekly Range Update

bitstampUSD 1 Day #5 2017-05-15 07_27_41.186
XBTUSD daily chart – VWAP + dev.lines

XBT / USD weekly price range is 1667$ – 1893$ | Last week’s profits taking mean that a possible top has been made at about 1900$, for this week I think the price might remain confined inside the resistance zone shown in the chart (1667$-1890$).

Should an increase in volatility materialize it is not excluded that XBTUSD might visit lower levels, for example down to 1440$.

The ALMA average is always firmly up and the RSI dropped a bit down to the overbought threshold at 70. A drop to 1450$ would allow the RSI to finally move back to the oversold zone.

In case of extreme fall the support area is 800$-1100$.

ITA version here