BTC in up trending wedge in an overall downtrending channel

BTC continues to work its way up the up trending channel that's formed since BTC bottomed in March. That being said, it's a structure that has formed in an overall downtrending channel so, I expect some more downside with BTC consolidating on or around the targets on my chart. However, that doesn't mean that BTC won't test the top of this upwards sloping channel before the "big" breakdown, so $8K is in play, in the short/medium term. However, if BTC can break the top of this greater downward sloping channel and consolidate on top of it, that will be the sign that BTC will head for new all time highs as this structure does imply an eventual retest of $14K. In the meantime, there is probably more emotional highs and lows ahead for us all. Good luck trading.