Last night, Trump announced a halt on strikes against Iran, which boosted market sentiment. Stocks, gold, and cryptocurrencies all surged, alleviating some of the previous panic.
However, this rally is purely news-driven and represents a short-term emotional rebound. Bitcoin and Ethereum's bounce lacks strength, with significant resistance at 640 and 1700 levels, leading to low FOMO in the market. In the four-hour chart, prices are continuously under pressure from the upper band of the Bollinger Bands, limiting the rebound potential, and the overall bearish trend remains unchanged.
Our trading strategy stays consistent; any rebound is a good opportunity to short, with a focus on potential pullbacks.
Bitcoin: Short in the 63500-64200 range, targeting 62000, and looking down to 60000 if broken;
Ethereum: Short in the 1680-1720 range, targeting 1640, and aiming for 1600 if it breaks. $BTC $ETH
However, this rally is purely news-driven and represents a short-term emotional rebound. Bitcoin and Ethereum's bounce lacks strength, with significant resistance at 640 and 1700 levels, leading to low FOMO in the market. In the four-hour chart, prices are continuously under pressure from the upper band of the Bollinger Bands, limiting the rebound potential, and the overall bearish trend remains unchanged.
Our trading strategy stays consistent; any rebound is a good opportunity to short, with a focus on potential pullbacks.
Bitcoin: Short in the 63500-64200 range, targeting 62000, and looking down to 60000 if broken;
Ethereum: Short in the 1680-1720 range, targeting 1640, and aiming for 1600 if it breaks. $BTC $ETH