To get a better appreciation for this let's zoom out to the 6H candles:
There's also still hope that the $300 support level holds, and if it does, we could at least start carving out a range higher than we have been in most of 2015 with $300 being the resistance level. Year-to-date resistance becoming support would be a major point in favor of the bull case.
However, for now, the bears are winning. Protect your coins and hedge wisely. See the futures exchanges to discover your options.