The Bitcoin (BTC) has been trading sideways at the price of $13.700. This weekend marks a milestone for bitcoin as 80 percent of the currency has now been mined into circulation, this means there's only 20 percent left to mine. Satoshi Nakamoto's protocol was one of the first to introduce digital scarcity and soon enough the digital asset will become even harder to obtain. The technical picture is neutral to bearish.
Trading recommendations:
According to the 4H time - frame, I found symmetrical triangle in creation. My advice is to watch for potential breakout to confirm direction. The price is still trading inside of the downward channel, so my advice is to watch for potential bearish breakout. The downward targets are set at the price of $12.650 and at the price of $10.650.
Support/Resistance
$13.225 – Intraday support
$13.805– Intraday resistance
$12.650 – Objective target 1
$10.650– Objective target 2
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