The recent drop due to Bitfinex saw the price hit a long-term Fibonnaci retracement level based on the Weekly chart and long-term low. That flash crash price drop now acts as a new short-term low for Daily Chart
Orange brush line shows my 'best guess' providing the 580 holds and we get some action
rather than trending tightly sideways.
I then added the Ichimoku Cloud
and saw that my orange line adheres nicely to the cloud. Therefore... I know I'm right ;)
Time will tell.