Short Term Update: Hourly chart at Bistamp

chartThe chart you see left this post tell us that the short term tendency is still up, price is still above VWAP with positive netvolume so this is a bullish configuration and as long as it continues the sensible expectation is for higher prices.

I have shown in the graph another trade opportunity using both vwap indications and RSI oscillator (i use 8 for rsi period instead of the common used value of 14). When RSI enters overbought or oversold territory is always safe to close the trade if there is a decent profit on the table, don’t be greedy:)

Price range for today is $928 – $1080 at bitstamp.