6-4 Bitcoin Outlook: Reference 2H

Recently, Dan has been saying that 106800 is the dividing line between bulls and bears for the entire market, determining the future direction. Therefore, the short position at 106800 has been hanging for several days. Yesterday, some trades missed by 25 dollars, and some hit the mark. Unfortunately, Dan was unable to catch this short position.

Returning to the K-line: From the K-line perspective, Bitcoin has already cleared out the short liquidity on the left side and has also encountered resistance after reaching Fibonacci 0.618, leading to a decline.

In the short-term cycle, Bitcoin has also developed a bullish structure, which is easy to identify as the lows are continuously rising, and the highs are also continuously rising.

If one wants to disrupt the short-term bullish structure, then it must break below 104800, creating a lower low; the structure would then be damaged, and at that point, we can look at the mid-axis position of the consolidation area at 103200.

So if the price comes here subsequently, that would be the first take-profit point for the short position. If it breaks below, we can continue to look downward #BTC