Technical analysis:
BTC/USD has been upside in last 24 hours but I see that key resistance at the price of $29.600 is on the test. I see potential for the further downside movement.
Due to the breakout of the consolidation in the background and the weak rally after the breakout, I see potential for the further drop.
Downside objective is set at the price of $28.260
Stochastic oscillator is showing fresh downside cross, which is another good sign for the further downside movement.
Key resistance is set at the price of $29.600