Technical analysis:
BTC has been trading downside and the price tested the level of $39.600. I found potential completion of the ABC upside correction in the background, which is sign that there is potential for the downside continuation.
Trading recommendation:
Due to completion of the ABC correction and strong downside cycle, I see potential for the downside continuation.
Watch for potential selling opportunities on the rallies with the downside objectives at $38.000 and $34.600.
MACD oscillator is showing negative reading with no signs for the reversal.
Resistance is set at the price of $41.300