BTC Short Scenario

Take a look at this chart and please understand that this is not trading advice. I am simply taking notice of the larger trend that BTC has been trading in and continues to trade in. Any hope and dreams of this being more than just a wick at this point are just that, hopes and dreams...the fact of the matter is that until we can prove that this is a reversal impulse move that will get us out of the bear trend, we remain in a bearish channel just above a support that if broken could be catastrophic for the BTC price. Full disclosure, I have a short position on margin and a long position with no margin. I use shorts to hedge and I believe this is a great hedge position to have.