Technical analysis:
BTC has been trading downside due to double top formation in the background. There is chance for further downside movement.
Trading recommendation:
Due to double top formation and rejection of Fibonacci 100% expansion, I see potential for the downside movement.
Watch for selling opportunities on the rallies using the lower intraday frames.
Downside objectives are set at the price of $46,655 and $45,817
Stochastic is showing downside reading and potential for further downside movement.
Key resistance is set at $49,500
