Tag: short term

Weekly Range Update

On By CryptoAdvisorIn Short Term Trading, weekly range update
bitstampUSD 1 Day #1 2017-09-18 09_48_01.095
XBTUSD Daily Chart – VWAP Levels

XBT/USD weekly price range at 3650$-4300$ | As I wrote on twitter the market found support within the support area of my previous update that had a lower limit of $2800. I would like to point out that I will not increase my long-term position opened between 2014 and 2015, but I will tell you when there will be a buying opportunity.

Today’s reaction is positive and I believe that in 1-2 days the ALMA moving average will turn upwards together with the average of the RSI oscillator.

The RSI has already given a purchase signal, but it is better to confirm it when its average slope will also turn positive.
When these conditions are met we will have a buying opportunity.

In the event of a catastrophic news, the support area on the weekly chart remains unchanged at 2000-2500 US Dollars.

ITA version here.

Short Term Update

On By CryptoAdvisorIn Short Term Trading4 Comments

imageThe updated chart shows how the VWAP dynamic support (calculated with two months of data) coincides with an old resistance now turned support. I think this will be a key support to be observed in the coming days and will tell us if the bullish move has finished or not.

Because of high volatility the support area is big and XBTUSD is right in the middle, RSI is giving a sell signal this doesn’t mean a drop instead XBTUSD might go lateral for few weeks before resuming the uptrend. Any weakness below $580 would be interpreted as a definitive end of the current big upswing.

Italian version here at bitchanger.