Technical analysis:
BTC/USD s been trading downside as I expected and the price did break the upside channel in the background.
Due to the downside cycle and the breakout of the upside channel in the background, I see potential for the further drop.
Fiboancci downside objectives are set at $22.750 and $22.330
MACD and Stochastic oscillators are showing downside reading, which is sign that sellers are in control.
Price is trading below displaced moving averages, which is another sign that sellers are in control.
Key intraday resistance is set at $22.600
