Long Term Update: daily chart @bitstamp

chartWhat we are seeing is a decent rally that it is still emerging from a severe December drop; i expect to see some resistance around the first deviation line at $900, it’s the same deviation line that marked the top at $980 before the crash down to $382.

The RSI oscillator is overbought,  when this occurs, the Market almost never makes a final high. That means the Market will most likely go higher in the medium term so it could be a good idea, for anyone wanting to buy into the currency, to buy at market and place a stoploss below the current VWAP level ($733).

The net volume activity is positive, finally, after more then 30 days of bearish volumes; it’s a first confirmation that the BTC/USD is headed towards further highs.

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