Bitcoin is currently consolidating on the 1 hour chart underneath a falling trend line. Normally, I'm not comfortable taking a short position as price can easily break above. However, with Bitcoin's weakness and failure to push into higher highs, shorts are favored.
We can see a few significant doji's are also starting to form. I love entering trades at the half-way point on the wick and placing stops above/below thh wick.
If we project a downside target from the consolidation zone, the profit target coincides with a 50% Fibonacci retracement at $6,170 level.
Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.