About the outlook for BTC next week:

In our discussion yesterday regarding the medium-term perspective, we mentioned the current 📈 continuation, which has now shifted to a converging adjustment. Based on the timeline, it is expected to see a new round of momentum next week. If this week can close above 105k, we may see a breakout to new highs.

There is no obvious divergence within the current range, and both sides are relatively balanced. At least at this stage, it can be clearly stated that there has not been a reversal structure breaking out of the consolidation, as the core logic is seeing the right-side bottom being raised.

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However, in this relatively high-level range, chasing gains does not offer a good risk-reward ratio. If we want to break through the previous high, there must be a new narrative to attract funds, and the extent of the washout here is limited to a small cycle, which is clearly insufficient in terms of strength.

If next week can maintain this state, a slightly stronger move may lead to a false breakout at 109k, followed by a quick drop. The current price does not hold much appeal for me.

Of course, the low area around 102k still retains a bottom position, and I believe this 📈 on the 1-hour chart is not yet over, at least it should reach above 105k! Take it one day at a time, let's take a closer look next week, not wanting to think too far ahead, have a great weekend! 😄