It is a shame that 40,000 bitcoin and 1.x billion dollar is having a huge effect on the value of bitcoin. Yes, we know that the rise last year was actually uncalled for, but it just shows that bitcoin is trying hard to catch up with the selloff not affecting it hugely.
I guess we will need huge news to get the market up hugely in the coming months; otherwise, we will keep having a lot of resistances to deal with. However, looking at the whole thing happening with bitcoin, I feel it is still a good thing for us to have some period of accumulation, because like it or not, we are getting past this soon.