Technical analysis:
BTC has been trading downside as expected and there is the major brekaout of the key multi year support at $29.000. I can see further drop towards $20.000,
Trading recommendation:
Due to the strong downside cycle and broken key support at $29.000, I see further downside continuation.
Watch for potential selling opportunities on daily rallies with the downside objective at the price of $20.000.
MACD oscillator is showing new fresh downside momentum, which is another confirmation that sellers are in control.
