It's dawn again, and I can only say that Saturday's volatility is really too small. Throughout the day, it has been adjusting around the 108000 line. Currently, the small-scale structure shows a convergence within the range, which also means that a significant change in the market is about to come.

In fact, the convergence structure has been mentioned many times by Old Chen. The variables exist in the continuation after breaking out of the range. From the current market perspective, the strong resistance zone above is still between 108500-109000, while the key level needs to extend below 107200. Any break of these critical points will lead to a strong continuation, with attention to the 110500 line above and the 105000 line below.

The competition between long and short positions is intense, and I won't elaborate too much. Combined with the current on-chain information, fundamental information, and the warnings from technical indicators: the on-chain whales are active, and there is severe selling pressure at high levels. The short-term rebound is limited, but once the market is cleared, it will be two-way, just like the previous rise above 110000 followed by a rapid drop;

The fundamentals mainly revolve around tax issues, geopolitical risks, and interest rate cuts. The tax issues vary, and the expectations for interest rate cuts are tentatively set for after September. The probability of a price surge in July is extremely low, and the geopolitical situation is a time bomb for the fundamentals. Once the wind rises, there will be a significant plunge, and the current probability is relatively high; #现货与合约策略

From the perspective of technical indicators, the daily K-line maintains a wide-ranging fluctuation pattern for the long term. This time, the upward movement failed to break through the previous high, and the upward momentum is not sufficient. The weekly K-line shows a double top, and a significant downward movement needs to see below 105000. Breaking the 100000 mark is also within the trend's expectations. #比特币巨鲸动向

Things are man-made, and man can conquer nature, even if only half a step! The market moves on its own; during fluctuations, observe more and act less, enter and exit quickly; when the trend is clear, dare to charge and act! There are no insurmountable obstacles in life, and there are no bad markets in trading. Following the trend and waiting are both good choices. I hope Old Chen's thoughts can help you see a glimmer of light in the fog! $BTC