Bitcoin has made higher lows on the 15 minute chart. Fibonacci retracement gives a target for longs somewhere above 1600 corroborated by low volume profile area. Consolidation above that area following a minor correction might give an opportunity for further recovery. Additionally OKCoin futures settlement is in a little over 24 hours and there may be an attempt to mitigate losses with a rally. Consolidation above $250 is needed for the coming week to stave off further losses.