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Like the technical picture emerges of the price movement of bitcoin             .. the market Situation in the last two days resembled the paintings of the artist Ivan Aivazovsky *Storm at sea *(check this out).At the moment it is a complete destruction (Hiroshima and Nagasaki ,Stalingrad,PEARL HARBOR) . During the storm all the factors of technical analysis , completely unpredictable, and when it subsides and leaves vyrisovyvayutsya outlines of the natural disaster. H4 chart: the correction to the downward movement we saw, but it was much shorter than anticipated and stood at $418, and then downward movement continued.
On the daily chart: I wrote that you need to be willing to re-decline in the area of $360, but noted that below the level of the descent is not very likely.
Many I was attacked because I placed a sell order (it's against the rules,you don't know anything about trading) ,but it worked and we ,as always, the winners (the winners are not judged).

I put the Fibonacci level for new points of minima and maxima, that is, from $160 to $504, and allocated two support line of the upward movement in the price of bitcoin            
After adding these three tools,the situation became clearer on the chart: broke below the Fibonacci level of 38.2% and moving in next at around $332, and where the lower support line Breakout of this level down will break the whole ascending pattern and descending to the upper border of long-range imminent. If the $310 will not run down - the power just will not come the Communists, but it will be before revolutionary times. Now in the neighborhood of $360, goes through two levels of support: the upper diagonal line of the rising trend and Fibonacci a larger scale.
So, I see the situation with bitcoin             in the following way: if we today's daily candle will run the area of $350-$360 down, then go down to the range of $330 – $335, where it will decide the fate of the rising trend: through this range down and need to review the whole situation again.. In this case the nearest resistance is the level of $373, the breakdown of which will open up the way to $420.
A blind man took place in the boat facing waves and storms. So far dark is his color, sitting there like an empty cup to be filled with fluid of knowledge...
Excellent analysis Alex.
Also, fantastic painting, didn't know that artist.
Thanks my friend.
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