Collapse in price following negative after negative news cycles seems to have come to and end. With news today that South Korean officials may be back pedaling on their regulation crackdown after bullish tones from the SEC/CFTC senate hearing, this could be the potential turning point for bitcoin and pull it out of this bear run. With the 200DMA set to cap the downside, Initial targets will be to break this downward parallel channel and then the 100DMA.