Chinese exchanges will close at the highs since the last drop. We are waiting on US exchanges to close higher and confirm this move. Either way, it looks bullish. I was partially bullish when btc was trading at 240 or so, but because liquidity was so bad, I entered only a 50% position. I expect liquidity to improve in the coming day which usually comes with LTC chatter on this discussion, that is when you know!
follow the trend
The following excerpt is from my favorite trading book, "Reminiscences of a stock operator" by Jesse Livermore, you can find it in my resource page. I posted a different excerpt before about price manipulation by big players in the trading world.