Technical analysis:
BTC has been trading downside as I expected. The price reached my first downside objective at the price fo $41.100. I still see potential for further downside and new downside objective.
Trading recommendation:
Due to the breakout of the contraction in the background and strong selling pressure, I see potential for further drop.
Watch for potential selling on the intraday rallies with the next downside objective at $38.000.
Stochastic and MACD oscillators are showing negative readings with not signs for the reversal.
Key short-term resistance is set at $42.100
