BTC possible channel squeeze.

Here we have possible channel squeeze. Last week since we started the downward movement, we had a lot of different patterns. Bearish flag made us break out to 7600 level, where we found a support and had a bounce. Now we are forming possible another bearish flag. Yellow lines show the channel we have been squeezed for few weeks already. Major support and resistance levels to watch out on the way down.
If this is a bearish flag, that looks very similar to previous one, i expect to see us reaching 8140 levels and testing the bottom of the flag. Consolidation period and break down according to the channel.
Lets see how it plays out.

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Worked pretty well. BTC will probably consolidate util tomorrow evening 8050 - 8300 trading range. Watching closely.