In the previous update I mentioned as a possible resistance area the price zone from 480 to 510 dollars but the price has risen above my short term VWAP, i’ve to conclude that at least in the short term bitcoin has returned to a bullish position.
At this point I think that  XBT/USD could test the $ 540 resistance before some profit taking will take place.

The volume on all the main exchanges is high. Usually, momentum investors prefer to buy stocks that are rising with high volume, i hope they will be back to restore bitcoin price to at least 600 dollars as it was before the recent selloff.