U.S. stocks close at fresh highs again—can Bitcoin still sustain its upward momentum?

Today’s U.S.-Iran conflict is still ongoing. The strait remains under blockade. Besides both sides to the conflict, no one wants it to end. As long as crude oil and foreign-exchange exports are still dragging on, they will continue to generate returns. At the same time, U.S. stocks keep making new highs, the U.S. dollar index, conversely, has been falling all the way, and Bitcoin’s rebound strength has weakened and hasn’t continued to push higher. It’s just waiting for those large players to step in from the high end, so it’s not recommended to chase the price up!

BTC
Although the daily chart is in a choppy (paused) trend, the structure shows a “in-air refueling” pattern, suggesting that the push higher won’t continue. On the hourly timeframe, the candlesticks form a double-top structure, indicating that there’s a need for a pullback during the day. For a retest of support, watch 7980-8060. Only after it decisively breaks below both of these levels can the choppy trend be considered over. If the rebound is strong enough to break above the 8170 resistance, the upside targets are 8290-8450. At the moment, going long on the current market isn’t appropriate—control your position and consider scaling in batches, keeping an eye on the opportunity.

Around the 8160-8200 range, add positions at 8300. Target 8060-7980; if it breaks through, look down to 7810.

ETH
Around the 2386-2408 range, add positions at 2355. Target 2350; if it breaks through, look down to 2315-2260.