Technical analysis:
BTC/USD has been trading downside as I expected. The price has reached first downside objectives at the level of $18.400. Anyway, there is still chance for further downside movement.
Trading recommendation:
Due to the strong downside trend in the background, I see potential for further drop towards major support at $17.700.
Watch for the potential selling opportunities on the upside extremes and intraday rallies.
Downside objectives are set at the price of $17.700 and $14.000
MACD oscillator is showing downside reading, which is sign that sellers are in control.
Key resistance is set at the price of $19.550