It looks like things will get ugly Bitcoin is currently on its 2 hoursly chart it is forming a Head and Shoulders and we are currently completing the right shoulder. After several failed attempt to go back up above 8,500$ or more we might be going back down below 7,000$ if BTC will not break this formation we need to think of shorting is now until it is up above 8,000$. Volume is also decreasing which is an indicator that the market is still bearish on Bitcoin. MACD also formed a bearish divergence which signifies a momentum going down.