After the last dump BTC has formed a bearflag which is visible on the 1,2,3 and 4 hour. It might take some time to play out, but could also provide a good short oppertunity.
The target for the measured move is around 7.6k - and confirmation would be break of the triangle at around 8k.
Also, the daily RSI and Stochastics show a reversal in momentum, so I would be careful with going long on these levels.
Well - that played out to perfection :)