Bitcoin - Anchored VWAP - Key Levels to Watch
Quick overview of some key Anchored VWAP targets/ support/ resistance.
First up we take a look at the most recent swing high before the leg down on the 8th of May, as you can see this is still quite a strong resistance, with any rally being sold into.
The next VWAP Anchor point from the 11th of December compounds the resistance from the first anchor point, remember that a confluence of resistance strengths the case of that resistance.
Visually both VWAP are converging around the same price points, near the $40,000- $38,500 levels.
On the bullish side there does seem to be some support present at 8th of September Anchor point, this is significant because this breakout level marked a shift in sentiment for Bitcoin, after it broke the near-term high in June/July 2019.
Furthermore, the Anchor point from the March 2020 lows points to support at $22,000 level, this would give back the entire breakout move in 2021.
Time will tell whether Bitcoin can overcome the resistance, that being said move to $20,000 would pose a tremendous buying opportunity.
-TradingEdge
First up we take a look at the most recent swing high before the leg down on the 8th of May, as you can see this is still quite a strong resistance, with any rally being sold into.
The next VWAP Anchor point from the 11th of December compounds the resistance from the first anchor point, remember that a confluence of resistance strengths the case of that resistance.
Visually both VWAP are converging around the same price points, near the $40,000- $38,500 levels.
On the bullish side there does seem to be some support present at 8th of September Anchor point, this is significant because this breakout level marked a shift in sentiment for Bitcoin, after it broke the near-term high in June/July 2019.
Furthermore, the Anchor point from the March 2020 lows points to support at $22,000 level, this would give back the entire breakout move in 2021.
Time will tell whether Bitcoin can overcome the resistance, that being said move to $20,000 would pose a tremendous buying opportunity.
-TradingEdge
Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.