BTC is in an extremely delicate spot right now. It's tracing a short-term Rising Wedge within a longer-term Broadening Wedge. If we don't quickly break out North of the rising wedge, then it's difficult to see any situation where we don't break south towards the baseline of the Broadening Wedge.
A strong positive breakout from the Rising Wedge puts us firmly beyond 12k and back into Bull Territory. It's more likely, however, that we fall south of the Rising Wedge and drop into the 10.4k range before hopefully finding a supportive bounce at the bottom of the Long-Term Broadening Wedge.
Good luck everyone!