The US-Iran talks have hit a stalemate. While the good news lands, we’re repositioning for medium- to long-term opportunities! June 6 Bitcoin and Ethereum thoughts

A senior Iranian official said on Friday that the potential peace agreement between the US and Iran hinges on whether the US government agrees to unfreeze $24 billion in Iranian assets. He also warned that if the US restarts military action, they will “walk down a dark path.” On the 5th, the “yellow-haired” person at an election campaign event in Wisconsin said they would quickly end the war with Iran, thereby removing an important factor behind the soaring prices. As midterm elections draw near, public opinion generally believes that the US-Iran situation has led to higher oil prices and increased living costs, putting pressure on the Republicans’ election campaign. Yesterday, Ethereum’s long positions were stopped out—then Bitcoin added to the position and ran. Made a little profit!

Technically, after repeatedly testing the lows and forming doji candles, there has been no rebound strength. The main reason is that the situation is bad, which has triggered panic. Bitcoin broke below 60,000, Ethereum broke below 1,600, and there was a small rebound in the early hours. Right now, bullish strength is truly too weak. Wait until there is specific positive news before getting involved for medium- to long-term longs. For now, rebound-and-short is still the most steady approach!

## June 6 Short Setup

Short Bitcoin on a rebound at 62,000-62,500 (one lot). Defend near 63,500. Targets at around 61,000-60,500-60,000. If it breaks through, watch near 59,500-59,000. If it continues to break, keep moving the stop-loss and taking profit according to market conditions!

Short Ethereum on a rebound at 1,650-1,680 (one lot). Defend near 1,720. Targets at around 1,610-1,590-1,560. If it breaks through, watch near 1,530-1,500. If it continues to break, keep moving the stop-loss and taking profit according to market conditions!

## June 6 Long Setup

Go long Bitcoin on a pullback at 59,000-59,300 (one lot). Defend near 58,000. Targets at around 60,500-61,000. If it breaks through, watch near 61,500-62,000. If it continues to break, keep moving the stop-loss and taking profit according to market conditions!

Go long Ethereum on a pullback at 1,500-1,530 (one lot). Defend near 1,460. Targets at around 1,580-1,600. If it breaks through, watch near 1,630-1,650. If it continues to break, keep moving the stop-loss and taking profit according to market conditions!

Non-farm payrolls shattered the unrealistic idea of rate cuts. And based on existing data, there should be one more rate hike before March next year. This still needs to wait for future data to make an overall judgment. Good news really hasn’t arrived yet—but if it does land, there will most likely be a rebound with a not-small range. So try near the lows, and use a small stop-loss!