1. Prices overlaps between high and lows.
2. and drops .
Take a look on the hourly, we are at the lows. For the bulls, this could be a . Generally speaking, if it is a , then retesting the low the second time works best if it is "light"; a quick retest of lows and bounce.
I shorted at 380 yesterday with a stop of 380 at break even. I moved my stop from 393 to break even to make it a risk less trade. I personally have no idea which way price will go, I'll let the market decide. On one hand, we are in a strong downtrend. On the other, we are oversold and at support from early 2014.
I do live trades and bitcoin market analysis daily. Follow me on my bitcoin trading blog and twitter: ibankbitcoins.com, http://www.twitter.com/ibankbitcoins