Technical analysis:
BTC has been trading upside today but there is major resistance at the price of $47,500.
Trading recommendation:
Watch for the rejection of the resistance and breakout of the pivot low at $43,900 to confirm further downside.
Downside breakout of the support at the price of $43,800 can confirm test of $42,900 and $37,500.
Stochastic oscillator is showing bear divergence, which is another sign for potential downside rotation.
