BTC broke out from the falling wedge and is currently in consolidation around 8000 from where I expect a slight retracement to around 7500 - 7600.
Bull case:
A) If we hold this level, we might break the resistance at 8200, break out of the log downtrend line and reach for the falling wedge targets of 9k / 11k.
Bear case:
B)If 7500 doesn't hold, we will break down the trading range and re-integrate in the downtrend channel which would be super bearish and will have us see 6800 again and then reach for 5k / 4k targets.
Bull case:
A) If we hold this level, we might break the resistance at 8200, break out of the log downtrend line and reach for the falling wedge targets of 9k / 11k.
Bear case:
B)If 7500 doesn't hold, we will break down the trading range and re-integrate in the downtrend channel which would be super bearish and will have us see 6800 again and then reach for 5k / 4k targets.