Right now the outlook is neutral, but as soon as we see an impulsive decline, I expect it to develop into a strong downtrend, targetting the 86 dollars mark.
Mining induced is slowly killing the BTC price, which shows a weak demand, and a fading popularity after the emotional bulls are losing their perma-bull patience.
I sold my BTC at 378usd and I'm not looking back, but I find interesting how this market behaves.
On the fundamental side of things, some people are counting on the US Marshall's auctions' buyer Tim Draper and others to push the price up, but for now there is no sign of bulls in the longer term.
My reccomendation: stay in cash or your asset/commodity of choice.
Looking back at the MtGox era, I came up with this ratio chart, inspired by Tim West's work.
People were anticipating the addition of an LTCUSD pair at MtGox, which was the largest exchange at the time for Bitcoin.
It never came, the exchange massively scammed everyone and their mother, btc fell like all hell broke loose after MtGox basically created huge amounts of fake USD to buy people's BTC for free...
That was the beginning of the end for both pairs.