BTC News :
According to data from Skew markets, the put/call ratio for Bitcoin Options has been recording simmering selling pressure since 12 March. The Open Interest for the Options contracts with sell positions, by Options contracts with buy positions, has been steadily rising, despite the movement of the contracts' trading volume, which has been erratic, to say the least.Technical analysis:
BTC has been trading sideways at the price of $6.855. I still expect furher downside movement and next downward targets on the test.Trading recommendation:
Watch for selling opportunities on the rallies with the next downward targets set at the price of $5.817, $4.460 and $3.810.
MACD oscillator is showing strong selling pressure from the background, which is strong sign of the bearish pressure.
Resistance levels are set at the price of $7.150 and $7.400.
Support levels and downward targets are set at the price of $5.817, $4.460 and $3.810.
