Right now, Bitcoin hovering around $8,000 and performing a symmetrical triangle. These patterns normally mean trend continuation. When they are about to be completed the price breaks up or downwards.
Bitcoin has completed two significant pumps over the last days. Price pumps are usually compunded of two different legs. Now, the price is likely to make a pull-back.
Close your long and in case you would like to risk and go long, a tight stop-loss is highly recommended.
There is a lot of speculation about the future price direction. NOBODY knows it for sure. This is crypto. But currently the charts are indicating a bearish behaviour.
Now with a bearish outlook and the price being held around $7,000.
Price very likely to continue its way down.