9.15.2019 - XBTUSD Weekly Recap and 4H Outlook

BITMEX:XBTUSD   Bitcoin / US Dollar Perpetual Inverse Swap Contract
Good morning! Hope everyone has had a good week!

Since last update, XBTUSD fell roughly 6% and has now recovered by 4%.

The price action is trading around 10300 within last week's consolidation zone.

The VMA ( volatility moving average) is resting above near 10450, suggesting that the volatility is in the bears' favor.

Things are looking grim for bulls.

For a short term reversal, they will need to reclaim 10600/10700.

As long the price action trades below the VMA, I believe there is more downside - 10200, 9800, and possibly 9650.