As you can see above there is definitely something going on in China. More than 5000 Bitcoins have been traded in less than 60 seconds and there seems to be a massive downtrend. Some have asked us if the Bitcoin exchange Huobi is closing. We are looking into the case and will update this post whenever we have any more information.
We have written an analysis today that might be of interest: Bitcoin Price Fails at Major Resistance
UPDATE: the Bitcoin price seems to have stabilized now.