I attached here on the left a chart where each bar represents three days, it is something new and a good compromise between a weekly chart and a daily chart, enough to filter out noise but not too slow like the weekly chart.
For those who follow my blog since a while know that i use this type of media, the ALMA , a good tool to use in long term charts.
This average is now pointing down confirming the corrective phase but we are still in a bull market because the price during last months has been above the long term vwap, now at $340 and also above the 200 days moving average now at ~$250 and rising.
Looking volume activity the net volume has been negative since the first days of December, at some point it was improving but the second bad news from China about the ban on payment processors killed that attempt of recovery from the first low at $542.
To conclude XBT/USD remains in a corrective phase inside a long term bull market, the rebounce might extend up to $815 where there is the ALMA moving average to act as resistance level.