Short Term Update: daily chart at Bitstamp

chartPrices continue to advance at a good pace, on the left there is a daily chart of Bitstamp exchange. The reaction from the VWAP has been strong and i think there is a possibility to reach a new target at about $ 475 where there is the second deviation of the VWAP that has now shifted upwards from $410 of the previous update up to $475. Even calculating with my method the price target for the end of the month i have about the same level of resistance at 475$ using a conservative volatility factor , instead using the historical volatility of the bitcoin (that is much higher), price target for this month is higher at about $ 525; hardly the prices at Bitstamp will exceed $ 525 this month.

The support zone is always the same and it goes from the VWAP ($ 295) down to the first negative deviation ($ 210), these two levels define the range of prices where i think you will see a very aggressive buying activity in case of a strong drop.


10 thoughts on “Short Term Update: daily chart at Bitstamp

  1. petromag

    Hello Enky.
    I really appreciate your support here on the site.
    I am a beginner and my head goes from the past
    Can ever expect to fall? This is diabolical rise. Quitting in the orient.

    1. Enky

      Hi petromag, it is difficult to predict when there will be next fall, I think, however, the bitcoin will not go below my average which now is at 320 dollars.

    1. Enky

      I think that gox is coming to its end, the spread so wide is a symptom of a liquidity crisis, no one sells bitcoins at gox , it is becoming like a dead man walking MtGox:)

      1. Xatian

        Well … Look at BTCChina … it is even higher than Gox … don’t you think that Bitstamp is just “behind” at bit?
        Even BTC-e is higher than Bitstamp right now?

    1. Enky

      Frank, in a bullish market, good news are amplified and bad news ignored, i dont expect a significative drop because of that news

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