![BTC/USD: Sell short-term idea [Video]](https://editorial.fxstreet.com/images/Markets/Currencies/Digital Currencies/Bitcoin/bitcoin_forex_XtraLarge.jpg)
Due to strong downside condiiton in the background and bear flag pattern on the daily time-frame, I see potential for the further drop on BTC/USD.
Author
Petar Jaćimović
FXCentrum
Petar Jaćimović was born on 8 July 1989 in Jagodina, Serbia.
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Ripple (XRP) is trading downward but holding support at $2.22 at the time of writing on Wednesday, as fear spreads across the cryptocurrency market, reversing gains made from the start of the year.
Bitcoin extends correction below the $93,000 mark at the time of writing on Wednesday, signaling a cooldown from the early-year rally that touched $94,789 on Monday. Altcoins, including Ethereum and Ripple, are also facing headwinds amid uncertainty in market sentiment.
Zcash remains under selling pressure, extending its second bearish week and trading below $500 with over 2% decline at press time on Wednesday. The privacy coin experiences a consolidation in user demand as shielding pools consolidate.
Bitcoin (BTC) slides below $92,000 at the time of writing on Wednesday after falling to close above the key resistance earlier this week. Institutional demand shows mixed sentiment with alternating inflows and outflows this week.
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Bitcoin (BTC) continues de trade within the recent consolidation phase, hovering around $92,000 at the time of writing on Friday, as investors digest the Federal Reserve’s (Fed) cautious December rate cut and its implications for risk assets.