See the graph for my thoughts on bitcoin's current pattern of price action.
Summary: If we don't extend the sideways move of BTC for a substantial amount of time, a week or two most likely, then we will probably see a reversion to the mean pull BTC back to the 100 EMA sooner rather than later.
That price is currently $8,708, but is rising with time as the exponential moving averages converge back to current price valuations.