More downside - then a rally?

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
195 1 4
Resistance becomes support at 524. More downside needed to give bulls the advantage. We may see a rebound at the 61.8% fib retrace from the low of about $340 to about $470. Target in the $470s.

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Hi, yes I think I see the fib confluence you're talking about...just seen in this post by DanV on 4xForecasters discussion:
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