6-20 Bitcoin Outlook, Reference Level: Daily K, 2H
Recently, Bitcoin has been in a boring narrow range of fluctuations, a big trend is coming, but a significant trend requires stimulation from news, and this news is whether a war will break out between the United States and Iran.
From the daily level perspective: Currently, Bitcoin is hovering around the triangular trend line. When a support level is tested too many times, we shouldn't trust that it can hold again; instead, we should look to the right side to see if it can reclaim above the trend line when it breaks down; otherwise, this support can be abandoned, and we should look for the next one.
Once negative news appears, do not recklessly catch the falling knife; otherwise, you may buy in the middle of a downward trend. Be sure to look for entry positions to go long at the support of the lower black line or in the vacuum area of the large bullish candle's FVG on the left.
Short-term level 2H: Before the triangular trend at the daily level breaks down, we can still take some rebound trades or go short on rebounds in smaller time frames.
The 2H Bitcoin is forming a triangular pattern. If it breaks the triangle first, pay attention to the two resistance levels at 105500 and 106200.
If it first drops to take liquidity and then reclaims the trend line above, going long directly is also an option.
In summary, Trump said there is a chance of conflict in the next two weeks, so regardless of whether it happens or not, we should still take trades as needed, and just manage your stop loss well. #BTC
Recently, Bitcoin has been in a boring narrow range of fluctuations, a big trend is coming, but a significant trend requires stimulation from news, and this news is whether a war will break out between the United States and Iran.
From the daily level perspective: Currently, Bitcoin is hovering around the triangular trend line. When a support level is tested too many times, we shouldn't trust that it can hold again; instead, we should look to the right side to see if it can reclaim above the trend line when it breaks down; otherwise, this support can be abandoned, and we should look for the next one.
Once negative news appears, do not recklessly catch the falling knife; otherwise, you may buy in the middle of a downward trend. Be sure to look for entry positions to go long at the support of the lower black line or in the vacuum area of the large bullish candle's FVG on the left.
Short-term level 2H: Before the triangular trend at the daily level breaks down, we can still take some rebound trades or go short on rebounds in smaller time frames.
The 2H Bitcoin is forming a triangular pattern. If it breaks the triangle first, pay attention to the two resistance levels at 105500 and 106200.
If it first drops to take liquidity and then reclaims the trend line above, going long directly is also an option.
In summary, Trump said there is a chance of conflict in the next two weeks, so regardless of whether it happens or not, we should still take trades as needed, and just manage your stop loss well. #BTC
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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