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Bearish Pennant shows downward bias

COINBASE:BTCUSD   比特币/美元
Trend lines show Bitcoin forming a Bearish Pennant . If $BTC performs a bullish break above the upper trend line , then will look to 11,650 as next resistance, followed by 12,700. If $BTC breaks down from the pennant , as the flag would suggest, then consider a short entry. Fib based on 11/12/17 low 5511 and 12/17/17 high of 19891 and shows strong support at 8588 and potential strong resistance where the .618 meets the downward trend line .
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Crystal ball prediction: 11,005 in next 5 days, then to 9,600 to decide if it feels like breaking down and continuing the bear market, dragging alts down along with it.
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Not financial advice, trade at your own risk. Thoughts / comments are welcome.
update: Found support where expected with a low of 8516. Formed double bottom off the trend line and now moving up. TA still valid.
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