6-16 Bitcoin Outlook: Reference 4H

Bitcoin is currently consolidating in a converging triangle pattern. The first resistance is at 106800. If it gets rejected here, then this will be the first short position. If it breaks strongly, then we will wait for the position along the upper edge of the triangle.

For long positions, we can wait around 103000 below. The current position is not suitable for placing long orders as the risk-reward ratio is not favorable.

This week's market is expected to oscillate back and forth, which might be quite boring. Either engage in short-term fluctuations or wait for a new direction to emerge.