Using log scale, there appears to be an upward channel on BTC. RSI Sold off from Bitcoin rally territory (80-90 range) and is now below 70. It looks like Bitcoin may head to the $780-$800 range. I am reluctant to go short considering we have already moved away from the resistance line, (the best opportunity has left). If you are to go short, I would recommend putting stops near, or slightly above $1000. I am interested though in going long around $780-$800.
bloomberg.com/news/articles/2017-01-05/bears-scramble-for-yuan-as-china-chokes-flows-supports-currency