In my last update i’ve talked about a mandatory condition to move above $500 soon but XBT/USD failed to do so and instead drifted further down towards the $455-$465 support area. At this point the odds are for a drop down to the $420-$430 price zone, below the recent bottom done at ~$440 because the averages i’m using on the 3 days chart and weekly chart are bearish and pushing down the price.

For the next few hours because of a low reading of the RSI there could be a rebounce to $480 where there is the fast VWAP (7 days), notice how the second negative deviation line provided temporary support to the price action at around $465.