Bitcoin Is Still In Strong Downside Momentum
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Technical analysis:
BTC/USD has been trading downside as I expected yesterday. The price has reached first downside objective Fibonacci Expansion 61/% at the price of $22.500.
Due to the strong downside momentum, I still see potential for the further downside movement after the uspide correction.
Next downside objective is set at the price of $21.550
Stochastic and MACD oscillators are still showing downside reading, which is good sign for the further downside movement.
Key resistance is set at the price of $23.000
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