For now, bitcoin is stuck in a tight trading range and is at risk of a breakdown. “From a trading standpoint, [a] breach higher may offer an opportunity to fade, targeting a break to fresh yearly lows,” Michael Boutros, an analyst at DailyFX wrote in an email to CoinDesk. If a breakdown occurs, Boutros has a downside target of $19,666 for BTC.
www.coindesk.com