Technical analysis:
BTC/USD has been trading downside this morning and I found the breakout of the defined trading range, which is good sign for the further downside movement.
Trading recommendation:
Due to the breakout of the trading range and rejection of the resistance zone, I see potential for the further downside movement.
Watch for the potential selling opportunities with the downside objective at the price of $16.650.
Stochastic oscillator is showing overbought condition and fresh bear cross, which is sign for the further downside movement.
Key resistance zone is set at the price of $16.875
