🔥 Navigating Choppy Waters: What's Next for $BTC

The crypto king is currently in a consolidation pattern after its recent impressive rally, hovering around the 103,500 USDT mark. Price action on shorter timeframes is tightening, suggesting a significant move could be brewing. Patience is key for traders. 🧐 Important US CPI data is also due today, which could inject volatility.

While the broader trend remains bullish, with some analysts eyeing targets as high as $150,000-$160,000 for 2025 due to factors like increased network growth, whale accumulation, and institutional interest, caution is warranted in the short term. Bitcoin briefly touched $110,000 on June 10th before pulling back, liquidating a significant amount of short positions.

📊 Trading Outlook:

📈 Potential Long: A confirmed break and sustained hold above the 106,500 USDT resistance, especially with an increase in volume, could signal a resumption of the upward trajectory. This would align with bullish chart patterns like the recently resolved bull flag some analysts have noted. Consider this primarily for spot positions or with very conservative leverage due to potential whipsaws.

📉 Short Setup: If support around the 101,500 USDT level fails to hold, we could see a deeper correction towards the 98,000 - 100,000 USDT zone. This would be a counter-trend move against a strong prevailing uptrend, so manage risk carefully, possibly with low leverage or spot shorting.

NFA/DYOR ⚠️

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