I have not been following the news but my I suspect this information is well known with least a few weeks notice in advance? The worst news is always at the bottom, and people will start asking: Why is it going up with that many ETC? Its a trap! Manipulation! Then you have conspiracy theories pop up. Eventually people will move out of denial, and look for theories to support the rise, and finally then buy it, in which the price has gone up already and smart money dumps.
I agree in the long term, hence my emphasis as a bounce rather than a new uptrend or anything. Similar to litecoin, the bounce are quick and sharp, often quite rewarding. Short term both ways is definitely possible, hence the risk:reward / stop loss.