If support holds and is lower than the last peak, the selling pressure is reducing and the supply/demand balance may shift back to short term .
If support fails (likely on increasing from the previous peak), we could enter a medium term down trend that could take BTC all the way down to $330.
Based on the rhythm of the current trend we may have a week or more before the support test happens. In the meanwhile, expect lowish and not too much daily range.
My plan: Look to increase long position @ $550 pending behavior at and confirm the trade with a higher low.