BITCOIN, according to recent analysis we should open a SHORT.

During the last flat $BTC formed a native bearish wedge. Important thing: the resistance of this wedge was created much before the wedge was formed which makes level even more strong. Therefore, if the price tries to go upward (above $8350 - $8400 level) - it would face not only a bunch of strong horizontal resistance, but two ascending strong resistances as well.

Moreover, I've noticed a descending resistance (thin line above the price). This level deflected the price during a re-test of the support (already resistance) of the bearish wedge.

What do we have in sum? A bunch of signs that tell us to open SHORT position. However, in case bulls are stubborn, we can go upward for a little bit and reach $8350 - $8450 level, but more likely, they won't have enough powers to break higher.

However, in bulls are not going to resist, we would see $BTC at $7500 - $7600 level. In case the price won't be able to take hold above this level, we can fall lower to $7100 - $7200 and fully close the GAP at the CME Bitcoin Futures chart (our idea about one).

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