Technical analysis:
BTCUSD has been trading downside as I expected and the price reached objective at $32.820. Anyway, I still see potential for further downside movement and potential for next test of next downside objective.
Trading recommendation:
Due to the strong downside cycle and downside momentum, watch for selling opportunities on the rallies.
Downside objective is set at the price of $29.700.
MACD oscillator is showing negative reading and slow line is below zero, which is sign that sellers are still in control.
Stochastic is showing extreme reading but with new fresh bear cross, which is another sign for the downside movement.
Key resistance is set at the price of $40.600
