BTC/USD has encountered a devastating drop following the bullish breakout that tests $5,488.85 (on Coinbase). The devastating drop failed to find support at the 50 Simple Moving Average (SMA) 15-minutes close to $5,300. The flash drop below the trendline ignited more losses below $5,200 (previous day support). BTC/USD refreshed the lows at $5,000 and is now changing hands at $5,022.30 amid growing bear influence. The short-term outlook for BTC/USD has a bearish bias. The Relative Strength Index (RSI), for instance, is moving further down within the oversold. The levels below 25.00 have not been reached since the ... (full story)