Descriptions are on the chart, but I I think we are heading a lot lower on Bitstamp.
Price has dropped through the 200 MA on 4 hour ticks, we are about to get a MA cross over (also crossing the 200 MA) and MACD has failed to cross 0 with a strong bearish divergence.
I think we will find some support around $700 and then fall further to $570 - 600 (possibly lower depending on news and general sentiment).