This bad news really has damaged things from a TA point of view. I think that if the price doesn't crash, despite breaking significant supports, that it will rally up.
What bad news? (Sorry, I've been away)
Yeah, what bad news?
Most of it:
http://www.washingtonpost.com/blogs/wonkblog/wp/2013/05/31/why-didnt-bitcoin-users-freak-out-in-may/
The Liberty Reserve incident is what likely took out the support, and killed the rally.