Technical analysis:
BTC has been trading downside as I expected yesterday. The price reached first downside objective at $38.660 and is possibly going for second objective.
Trading recommendation:
Due to the breakout of the well defined upside channel in the background, I see potential for the downside continuation of the short-term trend.
Watch for potential selling opporutnities the intraday rallies with the downside objective at $37.800.
MACD oscillator is showing downside reading, which is another confirmation that sellers are in control.
Key resistance is set at the price of $40.300
