Tag: weekly range

Weekly Range Update

On By CryptoAdvisorIn Short Term Trading, weekly range update
XBTUSD daily chart
XBTUSD daily chart

XBT / USD weekly range $ 635- $ 710 | ALMA daily moving average rose upward and the main support is the VWAP at about $ 635. XBTUSD resists above the VWAP for almost a month. The resistance price zone is $ 710-800, I think that XBTUSD will remain above $ 635 also this week with a first support at around $ 670, which corresponds to the ALMA moving average I use. It remains to be seen if market participants will manage to push the bitcoin price over the resistance at $ 710, the volatility after a period of contraction increased again and it did it by pushing up prices rather than downward, a positive note that leaves some hope for a break above $ 710.

The RSI oscillator remains in neutral position around 50, yet there seems to be a trend strong enough to move above $ 710, at least this week.

Mid-Week Range Update

On By CryptoAdvisorIn Short Term Trading, weekly range update2 Comments

imageXBT/USD range till sunday $625-$740 | daily moving average is bulllish but slowing down and main support is at VWAP near $625 , i expect less volatility these days while the halving is coming next saturday. Eventually sunday after the halving the market might spike up to the resistance price zone 740-800 usd.

RSI oscillator average is near oversold territory and reversing to the upside, i don’t expect this market to move below $620.

Weekly Range Update

On By CryptoAdvisorIn weekly range update3 Comments
XBTUSD Daily Chart Bitfinex
XBTUSD Daily Chart Bitfinex

XBT/USD weekly range.forecast $610-$735 | daily moving average is bearish and main support is at VWAP near $610. XBTUSD is resisting above the VWAP after a quick test below the support i mentioned in the previous update around $585, support broken but quickly regained.

Resistance price zone is $735-860, i think that XBTUSD should remain above $610 but if it starts to spend too much time below it then i think that a new low is ahead in the support price zone $485-$610 with the RSI oscillator that which will probably become oversold by then.

Italian version here at Bitchanger

Weekly Range Update

On By CryptoAdvisorIn Short Term Trading1 Comment

2201XBT/USD weekly range.forecast $725-$870 | daily moving average is bulllish and main support is at VWAP near $580. XBTUSD continues to stay all the time above the first positive deviation line of the VWAP, a bullish behaviour.

In case of a strong price correction i’m looking at the $580 support as an interesting buying zone where to further increase my long-term position; position with a size of 3 units (150 btc) at an average price of $549.

Italian version of this update here at Bitchanger.

Mid-Week Range Update

On By CryptoAdvisorIn Short Term Trading, weekly range update5 Comments
XBTUSD Daily Chart @bitfinex
XBTUSD Daily Chart @bitfinex

XBT/USD range till sunday $650-$770 | daily moving average is bulllish and main support is at VWAP near $540 but as i said earlier this week when the market is strong usually the first positive deviation line is very good as support, now at $650.

The odds now are for a retracement, i suggest to observe market behaviour around the alma moving average and first vwap dev.line both at around 650 dollars.

Weekly Range Update

On By CryptoAdvisorIn weekly range update1 Comment

weekly range enXBT/USD weekly range.forecast $610-$800 | daily moving average is firmly bulllish and main support is at VWAP near $520 although when the market is strong usually the first positive deviation line act as main support; now at $615.

In my previous weekly range update i was thinking that XBTUSD was going to add another 50$-60$  in the current up-cycle and it happened. Right now i’m observing market behaviour around the static resistance of $680, apparently XBTUSD is going to break this resistance and skip the scenario of a substantial price correction.

Aniway in case of a strong price correction i’m looking at the $520 support as an interesting buying zone where to buy the dip.

ITALIAN VERSION OF THIS ARTICLE HERE AT BITCHANGER.COM

Weekly Range Update

On By CryptoAdvisorIn weekly range update1 Comment

BTCUSD daily chart

XBT/USD weekly range.forecast $540-$650 | daily moving average is still bulllish after the strong spike. Support is at VWAP near $480. Volatility remains high togheter with RSI oscillator now at 92.
Although support is at VWAP near $480 i think that $540 should hold in case of a retracement.

I think that XBTUSD will probably add another 50$-60$  in the current up-cycle before a substantial correction takes place.

In case of a price correction i’m looking at the $480-$540 price range as an interesting buying zone although as i said before $540 should hold.

Italian version of this article here at bitchanger.com

Weekly Range Update

On By CryptoAdvisorIn weekly range update1 Comment

bitfinexUSD 1439 Min 59 Sec #5 2016-05-30 07_59_47.790XBT/USD weekly range.forecast $495-$570 | daily moving average is bulllish after the strong spike. Support is at VWAP near $460. Volatility has increased and after an initial bearish trap XBTUSD rose well above the VWAP, RSI is high and it hadn’t been in overbought territory for a while this should increase the probability to see a retracement from here. Strong resistance is always at around $570.
Although support is at VWAP near $460 i think that $495 should hold in case of a retracement.

Italian version here at bitchanger

 

Weekly Range Update

On By CryptoAdvisorIn weekly range update1 Comment

XBT/USD weekly range.forecast at $425-$460 | daily moving average is bearish. Resistance is at VWAP near $445. Volatility increased but i think that we are seeing a bear trap, i expect an upmove that will carry XBTUSD just above the VWAP, RSI is low and it hadn’t been in oversold territory for a while this should increase the probability to see a rebounce from here. Strong resistance is always at around $480.

Generally speaking i think that there are no reasons to see the recent drop as a dump, in my opinion bitcoin fundamentals are looking strong and there is a lot to be bullish about this summer with segwit coming and halving.

bitfinexUSD 1439 Min 59 Sec #5 2016-05-23 09_36_59.648

Italian version of the update here

Weekly Range Update

On By CryptoAdvisorIn weekly range update1 Comment

XBT/USD weekly range.forecast $435-$460 | daily moving average is bullish after the upmove of May 6. Strong support is always at $435 near the short term VWAP and there is also a recent double bottom. In case of another upmove strong resistance is at $485.

image

With my metatrader 4 price regression channels i’ve a similar picture with support at $424-435 and resistance at $463-475 price zones. Yellow line is the same average i use on sierrachart, ALMA moving average.

BTCUSDDaily

Weekly Range Update

On By CryptoAdvisorIn weekly range update1 Comment

XBT/USD weekly range.forecast $430-$450 | daily moving average is slightly bearish and strong support is at $430 near the short term VWAP. XBTUSD has broken to the upside from the previous congestion range ($400-$430) although now it is a bit weak and could probably test the VWAP at $430. For today support is at $445.

chart