【Consolidating Triangle, Direction Not Yet Clear】
Originally, weekends generally show little volatility, but due to the US-Iran war occurring on a weekend, the fluctuations have been significant, causing both longs and shorts to be liquidated back and forth.
Currently, Bitcoin is still fluctuating within a 4-hour consolidating triangle pattern, and the direction has not yet emerged, making it difficult to take positions; one can either wait for the direction to become clear or operate around support and resistance levels.
Bitcoin can now only trade around the upper and lower trend lines. If it breaks above the upper trend line, it is possible to take a long position with a stop loss of $800-1000, targeting several liquidity levels above.
The lower red trend line also needs to be closely monitored; it has already been tested several times. If it is tested again and fails to hold, there is a high probability of probing down to around $60,000 or even $58,$BTC .
Originally, weekends generally show little volatility, but due to the US-Iran war occurring on a weekend, the fluctuations have been significant, causing both longs and shorts to be liquidated back and forth.
Currently, Bitcoin is still fluctuating within a 4-hour consolidating triangle pattern, and the direction has not yet emerged, making it difficult to take positions; one can either wait for the direction to become clear or operate around support and resistance levels.
Bitcoin can now only trade around the upper and lower trend lines. If it breaks above the upper trend line, it is possible to take a long position with a stop loss of $800-1000, targeting several liquidity levels above.
The lower red trend line also needs to be closely monitored; it has already been tested several times. If it is tested again and fails to hold, there is a high probability of probing down to around $60,000 or even $58,$BTC .