Look for 0.618 Fibonacci to start to see price action at this level. Below has support of Fibonacci and aligning to bounce off. Once bottom confirmed (...Still believe traders are expecting unobtainable lows) and established, I expect eventual rise into overall (green) trend channel ($12000)
RSI - Flatting at 45, dip of , completion of Divergence could expose trend reversal.
Ichimoku Cloud - Lead up to April appears break may be possible but overall trending downwards.
Alt Coins - Dominance of Alt's are starting to contract, especially the larger ones, all while BTC dominance rises, currently 42%, Reversal in those such ETH, BTC , LTC but expecting Korean coins first XPR , EOS, NEO could indicate early rise.
BTC Circulating supply - Although new 12.5 BTC is "minted" every 10 mins, availability may become reduced as Mt Gox seem to have stopped dumping coins until November, along with those who have been "coin burnt" by buying high, have little option to wait for the eventual rise (...and some may be waiting a while) HODLers are even happening at this price level.
Would love to know what thoughts are on this scenario and possible variables.
p.s I'm overall on Bitcoin .
Longer term will be interesting to see what price action brings fiat, 100(MA) losing ground, squeezing the price lower. Overall there is a lot $$$ sitting on the sideline with probable use within the Crypto market but what price will entice them?