Technical analysis:
BTC has been trading upside but I found that there is exhaustion at the price of $49,540. Potential for the downside movement.
Trading recommendation:
Due to the potential exhaustion in the background, I see further downside movement.
Watch for selling opportunities with the downside objectives at $48,258 and $47,475.
Stochastic is showing bearish divergence and overbought condition, which is sign for potential downside movement.
Resistance level is set at $49,540
