XBT / USD weekly price range at 2200$-3140$ | For this week the range is similar to the previous one because the 2 months VWAP average is basically flat. Last week I was expecting a breakout outside the congestion range with a new maximum or a test down to the VWAP at 2440$, this latter possibility occurred.
As long as the price continues to remain above the VWAP at 2440$, the situation remains positive.
As for the other indicators I use in this template, you can see that the ALMA mov.average is still up and the RSI has almost tested the overbought zone at 70.
As for the tomorrow’s event I see it as the mere birth of a new altcoin, I do not expect a big impact on the XBTUSD cross price as it is not an unexpected news and has already been discounted by the market , it might have the effect to increase volatility but I don’t think that tomorrow will begin a bearish move due to this event.
In case of extreme fall, the support area is 1300$-1650$.