Short Term Update: hourly chart @bitstamp

chartNot much is happening these days, BTC/USD is spending time above $840 and volatility is dropping (not necessarily a bad sign). I have shown in the graph two trading opportunities, one for a short selling (for who trades at bitfinex) and a buy signal. If the price movement is at least $20-$30 it’s possible to have a decent profit, fee included.

It is true that looking a four hours chart the price is declining with a series of lower Highs and Lows, therefore i should conclude that from now on it has to fall more and establish a new lower low under $542, logic conclusion. Well when it is too obvious in speculation there is always a surprise around the corner; it might drop a bit from here but i think that it’ll stay above my important level of $650.

I’ve added a moving average to the fast RSI i use, it helps in filtering out bad trade signals.