Bearish Pennant shows downward bias

COINBASE:BTCUSD   Bitcoin / U.S. Dollar
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 .
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.
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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