Keep an eye on the news. Not everything is technical analysis. Korea (a big player in the Crypto world) has had further discussions re future of bitcoin and how I may be regulated in the future. The last 2 major slides have directly followed news from Korea and the last recovery came after Korea back tracked on their 1st comment to ban exchanges. Now they are proposing to tax exchanges (which should probably already be happening) and also to require exchanges to notify the tax authorities of transactions that happen on the exchanges so that they can monitor the movement of Won for tax purposes (which to my understanding already happens in the states or at least now can happen post that decision re coinbase). If on the other hand Korea follows Japan (a HUGE player in crypto) and regulates exchanges and doesn't do anything to excessive I can image that Btc will have another huge run that will prop up many Alt markets (looking at you Icon).
I was also wondering what caused the bitcoin price to drop again so suddenly just when it was beginning to recover until I saw the news about Korea. Even with expectations for the price so finally steadily go up, when events like this occur it causes a disruption. Korea has been a huge player and anything that's been happening there has caused some effect on the price. It's best to be updated on the news because events like this may occur and may cause a change on the price trend.
The reason Bitcoins is still tanking is probably due to the fact that there are so many people who bought very very cheap Bitcoins in the past, and now they just want to grab some FIAT money and they are afraid that Bitcoin won't keep such high prices. To sell at 20K or 10K for them it doesn't change much. 
