Bearish perhaps on the very low time frames, but not if you zoom out and look at the bigger picture.

We're forming a very large bullish pennant as we speak, and if it ends up breaking in the direction of the current trend, which is up, we'll blast through this year's high and potentially stress the all time high. If we add that the block halving is inching closer and closer, it adds to the probability of this pennant to break out to the up side.

But you have to look at the bearish side too, and this is admittedly very ugly in case of a break out to the down side. If this plays out I personally aim at a bottom somewhere between $7000-$8000 but don't rule out a sub $7000 wick. Great opportunity for those who look to buy lower though.