6-17 Bitcoin Outlook: Reference 4H

The recent market has indeed been a bit boring, as the news from Iran has caused Bitcoin to oscillate within a range of around $5,000.

Yesterday, it was mentioned that Bitcoin is forming a converging triangle pattern. You can either short at the upper edge of the triangle or long at the lower edge, but unfortunately, it didn't reach that point last night.

So the current thought is still the same as yesterday; the midpoint of the triangle (black line) is too difficult to operate at. I won't go long on Bitcoin here unless you are convinced that this is a strong support level to open a long position, and if it breaks down, then stop loss. Otherwise, just wait for opportunities like I am.