The price of BTV has surprisingly formed a convergence structure over the past few days. Without a doubt, this is preparing for a big move...

On July 15, the CPI data for June will be announced, which means there’s less than a week until then, considering the two-day weekend. So, the convergence structure here may not end so quickly...

In any case, the channel is showing signs of slowly pushing the price upwards. If it ultimately chooses to break upwards, I will consider how the price can break through forcefully while also shaking off some bulls?

Personally, I hope that this white descending trend line holds for a while longer, forming a descending triangle here, and then continually attracting short liquidity during the oscillation process. When it finally breaks upwards, it will be very smooth...

There’s not much to say about this market for now; the spot premium is still oscillating at a low level, so let's patiently wait for signals!

As long as the middle track holds, I won't consider a bearish scenario for now...