Yes / By 2020, next generation (5G) cellular networks are expected to support a 1000 fold traffic increase. To meet such traffic demands, Base Station (BS) densification through small cells are deployed. However, BSs are costly and consume over half of the cellular network energy. Meanwhile, Cloud Radio Access Networks (C-RAN) has been proposed as an energy efficient architecture that leverage cloud computing technology where baseband processing is performed in the cloud. With such an arrangement, more energy gains can be acquired through statistical multiplexing by reducing the number of BBUs used. This paper proposes a green Intelligent Traffic and Resource Elastic Energy (iTREE) scheme for C-RAN. In iTREE, BBUs are reduced by matching the right amount of baseband processing with traffic load. This is a bin packing problem where items (BS aggregate traffic) are to be packed into bins (BBUs) such that the number of bins used are minimized. Idle BBUs can then be switched off to save energy. Simulation results show that iTREE can reduce BBUs by up to 97% during off peak and 66% at peak times with RAN power reductions of up to 27% and 18% respectively compared with conventional deployments.