Crypto friends, good afternoon. Let's analyze the short-term trend of BTC on June 20: Consolidating at the bottom, the direction will soon be revealed.
As of now, the price of BTC (Bitcoin) is around 105757, maintaining an overall consolidation pattern, with market sentiment being relatively cautious. From a technical perspective, both bulls and bears are in a tug-of-war in the short term, with prices repeatedly testing key support and resistance areas, indicating that a new trend is about to begin.
The support area is concentrated in the range of 104500-105000. If this level is lost, it could trigger further short-term correction, with a target possibly dropping to around 102000. Meanwhile, the resistance still focuses on the 107000 line. If it can effectively break through and stabilize above 107500, it will open further upward space, heading towards 109000-110000.
From the volume observation, the current trading volume has not yet effectively increased, indicating that the market is in a wait-and-see state. If favorable news comes in the future or the US stock market stabilizes, it may stimulate bullish momentum and accelerate the upward breakthrough.
In summary, BTC is still mainly consolidating in a range in the short term, and the choice of direction is approaching. It is recommended to manage positions carefully, paying close attention to the gains and losses in the 105000 support and 107000 resistance areas, and to wait for a clear trend before making further arrangements.
