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The US-Iran negotiations have completely broken down, and the coin price is rebounding against the trend. May 11 BTC and ETH ideas
Iran has rejected the proposal put forward by the United States, believing that agreeing to it would mean Iran is submitting to President Trump’s excessive demands. Reports say Iran is asking the US to pay war reparations and has confirmed Iran’s sovereignty over the Strait of Hormuz. The Iranian side also emphasized that it is necessary to end sanctions against Iran and unfreeze the country’s frozen assets. Earlier that day, Iranian media reported that Iran had officially submitted its response to the latest US proposal to Pakistan’s mediators, regarding efforts to end the war. Trump posted on social media that he was dissatisfied with Iran’s response, calling it “completely unacceptable.” Although there was a quick dip early in the morning, it rebounded fast—this is a counter-trend rebound, so go boldly short!
May 11 short strategy
For BTC, at the current price 81900-82300 continue to short. Add positions around 83000. Targets are 80500-80000-79500-79000. If it breaks through, watch 78500-78000-77500-77000. Continue to trail the stop-loss; take profit depends on the situation!
For ETH, at the current price 2370-2400 continue to short. Targets are around 2310-2280-2250. If it breaks through, watch around 2230-2200. Continue to trail the stop-loss; take profit depends on the situation!
May 11 long strategy
For BTC, when it pulls back to 76500-77000, buy one lot. Defend around 76000. Targets are around 78000-78500-79000. If it breaks through, watch 79500-80000-80500-81000.
For ETH, when it pulls back to 2200-2230, buy one lot. Defend around 2160. Targets are around 2270-2300. If it breaks through, watch around 2330-2360.
For a counter-trend rebound, be cautious about chasing the rally. At the moment, China-US negotiations are about to take place and may affect the market, but this kind of US-Iran situation could further intensify tensions in the Middle East—so go ahead and short boldly! #BTC重返8万