The Bitcoin bounce off of the middle line in the current trend was powerful. Just when all looked lost as the price plunged below key support levels a strong counter trend rally occurred getting price back up above those support levels at around the 30k mark. However the price is still in a dangerous area below the current shorter term down trend and also in the lower half of that downward sloping channel. In other words, the picture is mixed. We are not out of the woods yet.