BTC/USD has been trading downside due to the breakout of the contraction in the background. There is potential for the further drop.
Due to strong downside movement in the background and breakout of the contraction I see potential for the downside movement.
Watch for selling opportunities on with the potential downside objectives at $55,200 and $53,400.
Stochastic oscillator is showing fresh bear cross, which is another sign for the weakness.
Resistance is set at the price of $57,400