Just cancelled my LONG position of BTC after break of the steep rising trendline (gray). I don't play short (yet, not offered by gdax) but I will wait for the $8700 to find new opportunities to go long again. This would also mean that we enter the long term down trendline (green dashed) again, so we should watch out for the break down below 8700$ where a target around 8000$ - 7500$ would be very likely.