Technical analysis:
BTC has been trading sideways at the price of $47,500 but I see further downside movement.
Trading recommendation:
Due to the breakout of the bracket in the background, watch for selling opportunities on the rallies.
Downside target is set at the price of $44,000.
Stochastic oscillator is showing bear cross and overbought condition, which is another indication for the further downside movement.
Key resistance is set at the price of $50,000
