BTC/USD is showing a clear bearish flag here. if labeled support is broken (and it probably will considering overall market conditions), target level is labeled on the chart.
trade at your own risk
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pattern invalidated
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please note that this actually still could be a valid bearish flag here... however, I do not recommend trading this market at this time. do NOT trade unconfirmed patterns during an extremely iffy market like this.
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breakout to downside confirms target
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bullish divergence on RSI and MACD suggest a movement to around the bottom of the bear flag trendline. should provide a good opportunity to build short positions.
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change of situation as outlined in my last update: bearish flag here should see a small bounce to 8.3k before a breakdown to 7.1k area (assuming the bottom of the flag breaks, which it should)
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the potential for a bullish reversal at this point cannot be excluded, and there are a number of possibly bullish formations on the chart now. will update with a new chart once it becomes more clear.