May 24 BTC/ETH Mí Shen Strategy

U.S.-Iran negotiations have entered the final stage. Overnight news in the market says the “U.S.-Iran agreement has basically been reached.” Affected by this, BTC and ETH (the “big cake” and “small cake”) aggressively launched a rebound. Today, closely monitor the confirmation effect of the news, while also looking for opportunities to pull back on the technical chart to add positions. The current position should be good at making things simpler (doing subtraction), because the news is overly misleading; only take the information you actually need.

BTC: The favorable correction after the overnight market is exactly at this week’s long-term sideways platform of 76,666–77,300. The Mí Shen level positions on the points chart have all been verified over the long term—feel free to use them. At this stage, the market is very simple. Mainly watch the three regions (upper/middle/lower) of the large box 74,400–78,500. Yesterday, price stopped at the 74,400 lower boundary. The next correction target is naturally to sprint toward 78,500 to look for higher upside space. For near-term operations, you can use 77,300 as defense to add a short position (short “box”), then look for the space for BTC to pull back to the 75,500–76,000 box. Adding “short”/adding to the position in that space is also the attempt here—use 75,000 as defense. The target is 78,500. (See chart for details)

ETH: After “Black Monday,” most of this week has spent the time consolidating sideways. The correction target set earlier was 2,139–2,171. The positive news in the early hours also just pushed into this level. The next target remains unchanged: after breaking above 2,170, look at the large box 2,197–2,268. In terms of trading, in the short term you can try using 2,139 as defense to look for a pullback opportunity. If the market keeps consolidating for a long time to build up energy, then you may need to give up on this “box.” After the area 2,038–2,075 is repaired, it will turn into a support box. If there is still a chance of a pullback near this area during the day, that’s an opportunity to add (short/expand) positions. (See chart for details)