Well now, let's take a look at this chart. It seems like we had a nice little rally that got a bit ahead of itself, pushing up towards the $108,800 mark before running out of steam completely. The bears then took control and sent the price tumbling down, wiping out all the recent gains and finding a new low near $105,200. What's catching my eye, though, is this sharp V-shaped recovery over the last few hours. Buyers have stepped in aggressively off the lows, and we're currently testing the $106,700 zone. For me, the immediate question is whether this is just a relief bounce or the start of a real trend reversal; I'll be watching to see if we can build a solid base of support here before getting too optimistic about another run at the highs.