Many people have been calling for a huge move up or down right now, but I believe we still have some consolidation to take care of following the rally beginning in April. Let's not forget that we are still up ~180% ($7700) for the past 3 months.
If it breaks, go short. If it holds look for a breakout of the downtrend line formed by the larger wedge we are in. That would signal a violet move north.