Short Term Update

I expected the support at $475 to hold instead the market has dropped further more to $ 440 or so, with this decrease the VWAP average adjusted itself to $ 509 from $520 and the first negative deviation line is now at 480 dollars.

I believe that XBT/USD will eventually end the rebound in this price zone, between 480 and 510 dollars; after that it will probably resume the drop within 24-48 hours. Any strength above $510 would suggest the intention of this market to reverse to the upside confirming ~$440 as a temporary bottom.

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