XBT/USD continues to fall without ever being able to overcome the first negative deviation line of the average that I use to follow the market in the short term. This is definitely a very bearish behavior, as you can see from the attached chart the first resistance is at $ 406, the next is my VWAP computed using last 7 days, at $ 435.
If the market can move up to $ 435 without going back below $ 405, we can conclude that at least in the short term the bearish pressure is loosening a bit, vice versa if it fails to overcome $405, the first available resistance, I’ve to believe that we will probably see new lows below $ 380. More updated information is available for who follow my IRC channel.