I consider the dips as good entry points

12 set 2016

After reaching the bottom at $465 in the beginning of August BTCUSD formed a strong support marked with orange rectangle. It is difficult to say if the correction that started last night is over but until the price stays above $567 my preferred scenario is bullish with expectation for test of $650-$680 area. Only a breakdown below $564 will urge me to reassess any bearish perspective but for the moment i consider this scenario as low probability.