Technical analysis:
BTC has been trading downside and the breakout is on the way. Market already reached first downside target at the price of $27.200 and is heading towards second target.
Trading recommendation:
Due to the breakout of multi month consolidation and strong supply, I see potential for the downside continuation.
Watch for potential selling opportunities on the rallies with the next downside objective at $22.000.
MACD oscillator is showing new momentum downside, which is another sign of the weakness.
Resistance is set at the price of $28.500