Quick Short Term Update: 15 min Chart Bitstamp

chartStrong drop this morning after the China ban on Bitcoin, the market found support with a triple bottom at 840$ then reacted up to the first deviation line of today VWAP, the relative strength index oscillator worked very well giving a nice timing indication for entering and exiting a short term trade.

As long as price stays above today VWAP at 960$ i’m not much concerned for the bearish news impact on bitcoin, instead a drop under today low at 850$ should lead to an important test of my long term support at 700$ (weekly moving average).