Short Term Update: daily chart at Bitstamp

chartPrices continue to advance at a good pace, on the left there is a daily chart of Bitstamp exchange. The reaction from the VWAP has been strong and i think there is a possibility to reach a new target at about $ 475 where there is the second deviation of the VWAP that has now shifted upwards from $410 of the previous update up to $475. Even calculating with my method the price target for the end of the month i have about the same level of resistance at 475$ using a conservative volatility factor , instead using the historical volatility of the bitcoin (that is much higher), price target for this month is higher at about $ 525; hardly the prices at Bitstamp will exceed $ 525 this month.

The support zone is always the same and it goes from the VWAP ($ 295) down to the first negative deviation ($ 210), these two levels define the range of prices where i think you will see a very aggressive buying activity in case of a strong drop.

 

7 thoughts on “Short Term Update: daily chart at Bitstamp

  1. petromag's avatar petromag

    Hello Enky.
    I really appreciate your support here on the site.
    I am a beginner and my head goes from the past
    Can ever expect to fall? This is diabolical rise. Quitting in the orient.

    1. Xatian's avatar Xatian

      Well … Look at BTCChina … it is even higher than Gox … don’t you think that Bitstamp is just “behind” at bit?
      Even BTC-e is higher than Bitstamp right now?
      Regards

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