The Bitcoin sentiment remained negative on Wednesday. The crypto currency opened on a weaker note. The spot started the day at 6800 and immediately dropped to the 6600 handle. The currency continued its negative slide after that and almost reached the 6000 support zone when sellers lost downside momentum and pulled back. The EMA50 is crossing the EMA100 downwards. The EMA100 started to change its course while the EMA200 is still neutral. MACD remained in the negative area. RSI kept consolidating in the in the oversold territory. The resistance stands at 6600, the support is at 6300.
Taking into consideration the technical readings we recommend going short with the first target at 6000.