Watch the chart at the following link to keep on BIP 91 adaptation: https://www.xbt.eu/
A few notes of caution before we become again:
1) We are still in the RED
2) We are nearing the top of this channel and will test it's resistance strength soon
3) Typically, a channel resistance/support is not broken without multiple hits
4) is also indicating some resistance soon
5) Middle to act as resistance soon
6) Huge resistance at $2400 coming up soon
I could be wrong, but all of this indicates to me that we might see at least one more leg down before breaking through these strong resistance points. This theory seems to correlate with our timeframe as well.
I don't know that I see us going back down below our upward sloping RED again now that we are above it. I think it will act as support now and may end up helping us break out of our RED channel in the next few days.
BOTTOM LINE: I expect us to dip a bit in the next few days before breaking out, but not below our RED support.
I am glad to help you with the fundamentals, where I am strong :)
Some fundamentals about Bitcoin Exchanges: I use bitcoinwisdom.com. I watch Bitstamp and Bitfinex first and foremost, they lead the market with the BTC/USD pair. Then to make a better impression of the situation, I look at OKCoin, it should have the highest price of all exchanges on bitcoinwisdom. I see the trend on OKcoin. If it is going up - clear signal for at least mid-term price increase on every exchange. After these 3 exchanges, I look at btc-e - there are the most competent investors IMO. Who don't hurry, they take their time and spend their money wisely because it had been difficult to get their cash into btc-e in the first place. Then I look at Kraken BTC/EUR as I am in Europe and I prefer to get my money in EUR and calculate what profit I have made. But Kraken is a reactive exchange - despite the high volume for BTC/EUR pair on Kraken it always reacts to the price of Bitstamp/Bitfinex. I'd say it is kind of glued to Bitstamp BTC/USD price at the current rate in EUR.
So, that was it! Enjoy and let's make some profits!