Long Term Update: 2Y VWAP

bitstampUSD 7 Day #4 2017-06-19 08_06_27.980
XBTUSD Weekly Chart since 2016 – 2 Years Vwap

This week i feature a weekly XBTUSD chart of last 2 years, including a two-year VWAP average with deviation lines. For more than two years bitcoin has been above the 2Y WVAP and in recent weeks has moved far away from this average with a strong upward trend. In the attached chart I included a static resistance at 2900$ that I had calculated in the yearly forecast that I publish each January.

It’s unlikely that I’ve called the top for this year and as I said to some users in the comments in one of my previous articles, I think there is room to enter the resistance zone highlighted in the chart. The support zone, if a medium-term correction is made on the weekly chart, is the price range from 1600$ to 2200$.

The range for this week is 2330$-2780$ and in case of a catastrophic fall, the usual support area is 1050$-1350$.

ITA version here.

Advertisements