Matderkater.
Short

Range Bound For Now, But Bottom Test is Likely.

BITFINEX:BTCUSD   Bitcoin / U.S. Dollar
45 0 0
Major resistance is currently at ~$410. I would be astounded if that support is taken out anytime soon, or at least before testing the bottom.

I suspect something like a test of 'the bottom', a breach of the 38.2$ retrace, but a fail around $410, a test and fail of the 'the bottom', and fall into the Monster Support zone around $310-$320 (the highs right through 2015, and big support zone in Nov 2015), which will be the real and final bottom.
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