Feilong Daily | May 2nd


Happy Labor Day, brothers!
Hope for a turning point between the US and Iran
Yesterday, Iran submitted a new direct negotiation proposal to the US through Pakistan, causing oil prices to fall back; Brent dropped from 118 to 112, and Bitcoin and US stocks moved higher in sync.
Pakistani officials expressed optimism: they believe the likelihood of reaching an agreement this time is greater than before.
But Trump’s bottom line remains unchanged: "No deal without giving up nuclear weapons," and Iran has not loosened its stance; both sides are still bargaining.
Trump is visiting China in mid-May, and before that, he needs a diplomatic achievement. The window for successful negotiations may be within the next two weeks.
Once an agreement is reached, oil prices could plummet by over 20%, and a wave of recovery may occur for risk assets that have been suppressed for two months.
Technical analysis: 75k is a key support level, 8.33 is the 0.618 Fibonacci resistance; currently, it’s a rebound, not a reversal—face reality!
BTC0.28%
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