MTGOX:BTCUSD   Bitcoin / U.S. Dollar
84 2
As the last 24 hours selling didn't take us lower than last weekends bottom it does appear that this last day's downwards movement is part of the overall upwards bull market . (check 4 hour charts to see) As the market realises that it's turned there should be some big runs ahead. Exciting times ahead!

I am new to trading and enjoy spotting geometries and patterns within the charts.
Thanks for the comment Abandon. It does seem to a bearish pennant. My bad Im still learning the formations and their implications! Much appreciated!
Bearish Pennants almost always break downward, Falling Wedges on the other hand have the chance to break upward. But I don't really know that much yet, so I could be wrong. Also the wave count seems to suggest the possibility of some support at 95-94. But again, who knows. .
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