BTCUSD (Bitcoin) has experienced a sharp sell-off since early June after its long-lasting sideways pattern was breached to the downside. Nevertheless, the king of cryptocurrencies has managed to bounce back slightly after it ceased its downfall at the 18-month low of 17,590. The short-term oscillators are indicating a bearish near-term bias. The MACD histogram is currently below both zero and its red signal line, while the RSI has just escaped from the oversold territory. Should the negative momentum strengthen, the recent low of 17,590 could act as the first line of defense. Further downside moves may then stall at ... (full story)