Technical analysis:
BTC/USD has been trading downside as I expected and the price has reached the first downside objective at the price of $18.950. Anyway, I see potential for further downside movement in case of the breakout of $18.950.
Trading recommendation:
Due to the downside momentum and the supply in control I see potential for further drop.
Watch for the potential selling opportunities in case of the downside breakout of the support $18.950 to confirm further drop.
Downside objective is set at $18.550.
MACD oscillator is showing downside momentum, which is sign that sellers are in control.
Key resistance is set at the price of $19.440
