‼️June 9th 【BTC Market Analysis】 + Today's encryption news collection 📉📈 ‼️

[Bitcoin Market Analysis] Bitcoin (BTC) 4-hour Technical Analysis

At present, BTC is running in a clear shock range structure in a 4-hour period, with the upper edge of the range pressure level near $106,000 and the lower edge support level near $103,700.

It is worth noting that the current weekly and monthly switching nodes, from a multi-cycle point of view, the monthly, weekly and daily structures all maintain a bullish arrangement, the medium and long-term trend is still more, and the current pullback is a technical finishing in a strong trend.

In the 4-hour structure, the short-term key support level to watch is $105,700. If this level cannot be effectively reclaimed (i.e., the four-hour candlestick continues to close below it), the short-term price is likely to continue testing the lower support of the range. However, due to the overall trend being relatively strong, the downside space is limited. After a downward movement, a rapid rebound is still likely to occur, maintaining the range oscillation rhythm.

Trading strategy suggestion:
•At the current stage, it is recommended to focus on the idea of range trading and implement the strategy of selling high and buying low;
•Consider gradually entering long positions near the lower boundary (103,700) area, with stop-loss set after breaking below the box structure;
•Consider reducing positions or hedging with short-term short positions near the upper range (106,000);
• Keep some low-position bottom warehouse to avoid missing potential rebound market due to fluctuations.
If the price strongly breaks through and stabilizes above $106,000 in the future, the market direction needs to be reassessed, shifting to trend-following operations.

📊 Market Data Briefing:

•Liquidations across the network in the past 24 hours: $120 million
•Total contract positions across the network: 143.45 billion USD
•Total trading volume: 147.11 billion USD