6.25 Morning Bitcoin Strategy Analysis

Looking back at the market early this morning, there was a slight upward trend, with Bitcoin reaching a high of 106239 before experiencing a slight pullback, failing to effectively hold above the psychological level of 106000. In the short term, the breakthrough of key levels has not changed the overall pattern of the market's narrow fluctuations, and the overall range of volatility has relatively converged.

On the four-hour chart, continuous bullish candles are accompanied by long upper shadows, indicating hesitation in the market after consecutive rises, reflecting the characteristic of a market that turns back frequently. Given the strong upward momentum in the previous period, there is significant selling pressure above, making it difficult to form a strong upward momentum in the short term. Although technical indicators maintain an upward trend, there are already signs of a peak, and without achieving an effective breakout, the upward space is limited.

Recommendation for Bitcoin: 106500-106800🈳 Target 104000

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