Seems to me the upcoming hours will dictate the short term direction. If we can get a closure above the upper trend line in the current wedge Ill look for the .786 fib level to be fulfilled. (Daily fib retracement from $5,850 to $$10,000) I agree that this would be a quick higher high, trapping all the noobs, before reversing lower. However as indicated by the .618 Fib this is a reasonable place for us to reverse lower, with no need for a higher high. If the lower Trend line is taken out and the $7800 support region is then violated itll confirm the reversal IMO.