Bitcoin is on the move lower, sinking the most on a daily basis since February, down over 7%. The current move lower has eaten into nearly half of the gains Bitcoin has made since its late April multi-month swing low. In the process, BTC/USD has breached below its 20-day Simple Moving Average (SMA), which could add to the overhead technical pressure facing the cryptocurrency. Moreover, downward momentum may soon accelerate if the MACD oscillator crosses below its signal line. The first technical support area to the downside is the 100-day SMA near 51,678. Next up would be the 61.8% Fibonacci retracement level from ... (full story)