Weekly Range Update

XBTUSD dailychart
XBTUSD dailychart

XBT / USD weekly price range is 3200$-4800$ | Our beloved cross pair XBTUSD is showing strength and it will probably test for the first time ever the fourth price deviation line of the 2 months VWAP that I normally don’t use, this 4th line defines the upper bound of the resistance zone ranging from 4200 to 4800 dollars.

I think that XBTUSD cross could reach 4800 dollars this week or the next one considering that all the cryptocurrencies sector is going up massively with bitcoin taking the lead and rising with the fastest speed. Market is appreciating the recent efforts to improve bitcoin’s capacity.

The average RSI oscillator has returned above the overbought area and it will probably stay between 70 and 95-100 when bitcoin is so strong, ALMA moving average is bullish since the bottom of  mid July.

In case of extreme fall, the support area is 1900-2400 USD

7 thoughts on “Weekly Range Update

  1. eZc

    ENKY I highly like your analysises, thanks alot. Do you have an update to “your take” and newest decent takeprofit levels?” :(“my take? overbought area between 3200-3900 could be a decent takeprofit, not here around 2000.”) ”

    Seems to go betther than expected 🙂

  2. Herbert

    Hi Enky,

    Do you think that it is a good time now to spend a large chunk of my savings to buy BTC?

    Thanks!

    1. i always recommend to buy half position now and eventually the rest at the first correction to improve your average price.

  3. Hans

    Does anyone was hit lately with Bitstamp`s KYC (know your customer) questionnaire?

    1. What is your occupation?
    2. Are you using your Bitstamp account in connection with any business activity?
    3. What is the purpose of your trading on Bitstamp? Please describe in as much detail as possible how you intend to use your trading account.
    4. Which banks do you intend to use? Please provide the complete addresses and SWIFT codes.
    5. Estimated amount that you would be depositing/withdrawing to/from your Bitstamp account per month (in USD and BTC)?
    6. What type of trading will you conduct? Buying/selling/both? Estimated trade volume per month?
    7. What are your future plans and activities planned on our exchange?
    8. What is the source of the funds which you have so far deposited to your Bitstamp account? Please provide any financial documentation which can confirm how the funds sent to your Bitstamp account were acquired.

    What happens if I simply ignore this questionnaire?
    This is a breach of privacy and a lot of these questions cannot be answered faithfully at this point.

  4. George

    I got similar questions as well. Answer plausible but in a way it keeps your privacy as high as possible.
    Search for decentralized exchange…

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