Technical analysis:
BTC has been trading downside as I expected. The price is heading towards my downside objectives. Downside momentum still very active.
Trading recommendation:
Due to strong downside momentum in the background and breakout of the contraction and wedge formation, I see potential for bigger drop in next period.
Watch for selling opportunities with the downside objectives at $35,400, $32,950 and $29,630.
Short-term resistance is set at the price of $38,000
