As both EMAs point downward there is more downward pressure to come. While the long tail of the last days candle stick shows bullishness the people that have bought between $15500 and above cant wait to recoup their losses and they will be sellers(if they have any sanity left in them). Now, the Bollinger bands are on a huge expansion and until they squeeze to the next consolidation level we get one of the same. I did check many time frames and the story does not look good. I do favor the day frame. However I do place small trades here and there using the 5 min frame. No long positions in this madness whatsoever...