Short Term Update: congestion @bitstamp

chartThe situation is congested, I resetted the VWAP  lines using the last two days to have a picture for the very short term. The RSI oscillator is also congested, it not being overbought or oversold.
In these cases, you have to wait for something to happen to understand what the market wants to do. A possible trading strategy may be to buying bitcoins at the break-up of the VWAP at $ 910 with a profit taking around $ 940, a quick trade for a small profit.

This market is stabilizing above the important midpoint level of 650$ and as long as it stays above it i’m willing to believe that it is slowly preparing itself for a further upmove, probably to $1300-$1400.

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