Strong economic data, Federal Reserve rate cuts on hold, bulls struggle to continue upward momentum, cautious about chasing gains! 6.8 Bitcoin "Mistress" Strategy

Over the weekend, a strong technical rebound occurred, Bitcoin broke below 64,000, Ethereum broke through 1,700, long positions on Saturday took profits, weekend short positions with stop-losses were regrettably swept for small gains. But the US-Iran situation has not eased, although Iran escalated conflicts over the weekend, the US response was just verbal saber-rattling, Trump only publicly responded to Iran's stance with sanctions, possibly pressuring Iran to compromise. Such a situation makes rebounds hard to sustain; intraday, Conan suggests mainly shorting on rebounds!

6.8 Short Position Strategy

Short one lot of Bitcoin at the current price of 63,600-64,000, with a stop near 65,000, target around 62,500-62,000, if broken, look at 61,500-61,000-60,500-60k, continue to move stop-losses as needed!

Short one lot of Ethereum at the current price of 1,700-1,730, with a stop near 1,760, target around 1,650-1,600, if broken, look at 1,570-1,750-1,730, continue to move stop-losses as needed!

6.8 Long Position Strategy:

Bitcoin retraced to 59,500-60,000, go long one lot, with a stop near 58,500, target around 61,000-61,500-62,000, if broken, look at 62,500-63,000, continue to move stop-losses as needed!

Ethereum retraced to 1,500-1,530, go long one lot, with a stop near 1,460, target around 1,580-1,600, if broken, look at 1,630-1,650, continue to move stop-losses as needed!

Without good bullish momentum, the rally cannot continue; it’s only possible that funds might enter at low points to push prices up. After all, Bitcoin has retraced 50% from its high, Ethereum 70%. Whether this is a turning point from bear to bull is uncertain; stay attentive to the developments between the US and Iran!