The negotiations between the US and Iran are escalating, with repeated pulls and tugs. The recent conference in Iran clearly stated its position: if the US dares to strike, Iran will retaliate. The US still does not understand that bullying and betrayal are no longer 'cost-free' actions. The Strait of Hormuz can only be opened under "Iran's arrangements, not US threats," so it was written: "If you dare to strike, I will retaliate. Stop futilely waving your fists, or you will only get deeper into trouble."
Bitcoin had a slight pullback yesterday, then rose overnight, but now the price is falling again. The overall price is fluctuating in a zigzag pattern, so do not consider too much unilateral movement; just maintain a mindset of high shorts and low longs.
On the daily level, there was a run of six consecutive up days, peaking at 64,700 before touching the upper track and experiencing a small reversal and pullback. It is now on a three-day downtrend and is approaching the middle track support. If the evening closes below, the bearish trend may continue; conversely, if it halts the decline, it may reverse and rise in an N-shape.
On the four-hour level, the price is maintaining a downward trend in the lower middle track, with a low-level consolidation pattern. Whether it is gathering strength to test the bottom or continuing to move down remains to be seen. However, based on the overall market at present, the major trend is still to maintain low longs.
For today, it is suggested to look for bullish opportunities around the 61,500-61,200 area, with a short-term target set at 62,500. A breakout may target the 64,700 area; breaking higher means the market's volatility requires time to transform and create space, so everyone should maintain a good mindset.
Follow the official account, to relieve worries, only Jiang Wei. A treasured analysis blogger with emotional value, offering free trading teaching. Bringing stability and clear guidance in the restless trading market, with experiences of three rounds of bull and bear markets and years of practical trading. Skilled in naked K, trends, Dow theory, Gann, harmonics, Chan theory, wave theory, and other technical analyses, gathered into unique personal insights.
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