BTCUSD continues to move sideways within rectangle formation as bullish trend is losing momentum and becoming neutral. Bitcoin currently trades around 58000 USD pricetag; and we are currently bearish on BTC as technical analysis on daily time frame supports this thesis. We expect eventual breakout below the neutral zone. Additionally, we expect such occurence to be accompanied by further selling pressure and possible beginning of bearish trend . If bearish breakout occurs then we expect price to test 55 000 USD.
