There is huge resistance above 300. Notice the down strokes from the market top. Looks like a Fib. fan. The dotted projection is resistance on the time scale. Natural resistance at the top of The Panic Zone will meet the time resistance in a month or so. I expect a failed breakout attempt. In fact technically, I don't see a breakout for another year to year and a half. Fundamentally, the techno babble will increase as we all ourselves. This will also take about a year to resolve. In the meantime play the panic bounce. There's at least $100 (50 to 100%) of oscillation in this bouncing bottom. Not a bad way to make a living. The Panic Zone has not changed for over a year. Top is around $275 to $300 bottom is a consistent $160 all though technically the zone bottoms at $135. The real panic selling is below $218.
There is one more fundamental that I forgot to mention in the original commentary. The US-DOJ is about to dump 40000 more BTC into the market in December. They will probably sell it to the "highest" bidder and it will be a lump transfer. That person may or may not start dumping on the exchanges. I personally do not think it will be a fair auction and that the most politically connected will get dibs at a fire-sale price. I do not have any facts as to who it will be but, I would speculate, they live in NY and are well known to us all. No matter. This action will add to the resistance ceiling of around $280 to $300.