Current Market Outlook:

Tonight, focus on the breakout after the triangle convergence, follow the short-term trend, and be cautious of upward spikes due to the bearish trend.
Overall, the market is in a downtrend, with prices oscillating in the lower half of the range, forming a triangle convergence.

Reasons:
1.
BTC from the daily chart: belongs to a downtrend, starting to decline from the top, currently in wave 4 correction.

2. Based on the breakout from the major top range, it is in wave 2 correction.

3. On the 4-hour chart, both bulls and bears are in the mid to late stages, oscillating and converging in the middle of the range, closer to the bottom.

4. On the 1-hour chart, it is also in the mid to late stages, forming a triangle convergence.

5. Current consolidation cycle: 24 days, similar to the 30-day decline on June 10, 2022; the consolidation cycle is close but slightly short.
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