Bitcoin recently fell sharply from heights just above 460 to about 350. Bitcoin (BTCUSD) Daily Chart 1/19(click to enlarge)The mode was bullish at the end of the year, but has turned neutral and neutral-bearish in the new year. We are seeing some support around 350, a previous support/resistance pivot, but I wouldn't be surprised by further downside correction. The 1H chart shows the neutral-bearish mode in the very short-term. Bitcoin (BTCUSD) Chart 1/19 (click to enlarge)In the 1H chart, we can see that price has started to run sideways after falling to 350 and bouncing back to 392. Meanwhile, the RSI has held under 60, which is a sign that momentum in the short-term is still bearish while price is consolidating. A break below 373 should open up 350 with further downside risk towards the next support factor seen in the daily chart - a rising trendline.