6.17 Bitcoin Morning Analysis:
Last night, Bitcoin surged with consecutive gains, reaching around 108900, but started to decline in the early morning. Currently, the short-term trend is weak. We perfectly captured a profit of 2000 points on the long position at 106600 last night, timing it just right!
Current Market:
• Daily: After consecutive gains, it has entered a high-level consolidation, temporarily holding without breaking, but the upward momentum is weakening.
• 4-hour: After reaching 108900, a divergence occurred, with clear pressure at the 110000 level, retreating to around 107000, with bears starting to take control.
• 1-hour: Three consecutive bearish candles, with the lowest spike reaching 106068, now in a bottom consolidation, still leaning bearish in the short term.
Strategy:
• Light short positions around 107000-107500, targeting 105500; if it breaks down, hold. Set a proper stop loss
