Analysis: A break above 7.9k would indicate a break through of the large wedge formation. If 7.9k is rejected, I suspect BTC will continue it's downtrend down to the 5k range before bouncing, otherwise, we'll likely see a bit of an uptrend and consolidation mid-term.
Personal: I will cover my short with a marginal profit if a break above 7.9k occurs. If 7.9k is sharply rejected, I will double my short position once BTC falls below 7.75k.