Technical analysis:
BTC.USD has been trading upside yesterday but the key resistance at the price of $39,700 held again, which is good sign for me that another downside wave is in the play.
Trading recommendation:
Due to the strong rejection of key resistance at $39,700, I see further downside movement.
Watch for selling opportunities on the intraday rallies and continuation al patterns with the downside objectives at $36,400, $34,500 and $33,000
Additionally, there is the the downside trend in the background, which is another confirmation for further downside movement.
