Technical analysis:
BTC has been trading sideways at the price of $30.000. I see potential for the ABC correction to complete. Downside opportunities can be productive.
Trading recommendation:
Due to potential completion of the ABC correction and strong downside cycle, I see further downside movement.
Watch for potential selling opportunities on the rallies with the downside objectives at $28.725 and $25.605.
Stochastic is showing downside reading with no evidence for the reversal.
Key resistance is set at the price of $31.200