Bitcoin Trading Strategy for June 9

Market Analysis:

The weekly candlestick chart for Bitcoin looks somewhat bullish, but it is important to note that this breakout resembles the failed breakout pattern at 69,000, and the closing price has not exceeded 106,500. Currently, the overall weekly candlestick is still leaning towards a bearish sentiment.

The daily candlestick is currently testing near 106,500. As long as this level is not broken upwards, the overall direction should continue to maintain a bearish outlook. The timing for short positions can be sought on smaller timeframes.

Trading Plan:

Enter a short position after a bearish reversal signal appears on the 4-hour chart.