What we have just seen is nothing more than a profit-taking in a strong uptrend. As always, our reference is the VWAP line and for bistamp at the moment it passes at $ 147, say $ 150. I’m not worried as long as prices remain above this level, it is just volatility because of some investors cashing in profits by selling large quantities of bitcoins.

For those who want to buy it is always good to try close to the VWAP, particularly if it is trending higher like it is doing this month. For MtGox this month VWAP is at 160$, for btc-china it is at 1000 CNY.