Technical analysis:
BTC/USD has been trading downside this morning and I see potential for the potential breakout of the trading range.
Trading recommendation:
Watch for the potential breakout of the support zone at $16.500, to confirm further downside movement.
Watch for the potential selling opportunities below $16.500 with the downside objectives at $16.250 and $15.650.
MACD oscillator is showing downside reading, which is sign for the further downside movement.
Key resistance is set at the price of $16.950
