Short Term Update

Updated Weekly Range Levels

Given the good price reaction from the 5400$ bottom, I decided to update the price levels for this week to 6250$-7600$ with an extreme to $9000.

As I often say, the higher the bottom, the higher the chance is that the following top is very high and could be between 9000 and 10000 dollars, we have seen that the market almost never reaches the fourth VWAP deviation line so let’s say that a good top could be around 9000$.

The ALMA moving average isn’t yet bullish but it’s close to reverse its direction while the RSI failed to reach oversold territory and this means that the market remains very strong despite all the FUD of last week.