Bitcoin Buying Opportunity -- Not Just Yet

This looks entirely bearish at the moment. The theory is, the price dropped rapidly, a few people tried to buy the bottom, making a bounce, but the bounce doesn't seem very energetic to me. Maybe it has the energy of a dead cat?

Zoomed out view. Look how well this rally fits into this parallel trend channel (I'm a big fan of parallel lines). This is the exponential chart. There are 3 lines this could stop at in my opinion. I think there is a very good chance it goes all the way down to the bottom line, down at 1300 or below.

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