Bitcoin Weekly Range Update

XBT / USD weekly range $495-$ 640 | ALMA daily moving average is still bearish and the main resistance is the VWAP which adjusted to about $ 640 after the flash crash caused by Bitfinex.
https://btctrading.files.wordpress.com/2016/08/eng1.png

I think the cross XBTUSD will remain below $640 this week with a second resistance at about$ 715. Volatility after the peak of last week is now stabilizing. The weekly forecast remains bearish, I think we will continue to see the bitcoin below the VWAP to $640. The actual price rebound could already be exhausted, if so then i expect a retest of the$565 price level.

The average of RSI oscillator is turning upward but has not yet given a bullish signal, it is at 26 and below the threshold of 30 that identifies the oversold zone.

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