BTCUSD looking for another leg down.
Bitcoin has been trending down for almost a year now. we had a good run up from the low and hit strong resistance close to 7000. That together with the global pandemic and drop in traditional markets and the global economy I expect another down move and the charts agree. On almost all time frame price action is looking bearish. Almost every indicator and moving average is trending down. Some time frames have had death crosses and some are about to. We also have a rising wedge on the higher time frames and kind of a bear flag formation on the lower time frames. With a stop loss above the previous candle's high and targets around the next support level I believe this is a good opportunity for a highly probably low risk short trade.
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