June 10 BTC/ETH Mí Shen Strategy

The situation is heating up again, with the US and Iran experiencing renewed tensions. Although the US has stated that the strikes are just warnings and do not affect the negotiation process, Iran probably won't accept this easily, so we should be prepared for the possibility of worsening conditions. The good news is that even with news of friction between the two sides, the market is not as fragile as before. The adjustments here are following a steady pattern of a second test to confirm, so it’s recommended to continue acting according to the plan. The strategy outlined in previous posts remains effective.

BTC: The position of 60,800 given in yesterday’s post was quite accurate. The rebound in the night session had a maximum potential of over 2%. Since the core support at 59,500-60,800 holds, focus during the day should be on whether there’s an opportunity to buy the dip again in this zone, with the lower band as the defense line. Alternatively, if the price moves above the upper band, use the middle axis as the defense. Since there has been feedback above the zone of 60,800-61,800, more aggressive traders can consider betting on a double bottom already completed, with profit-taking done. Use 60,800 as the stop-loss, and consider adding positions early at this level. The resistance levels above remain unchanged at 62,300-62,900-63,500-64,100-64,800-65,400, which can be clearly seen on the point level chart. As long as the stop-loss positions are well placed, entering the market can be more relaxed, especially considering the potential support from news catalysts.

ETH: The previously set resistance at 1,715 played a crucial role in this round of trading. The second candle repeatedly failed to break through the resistance and chose to test again. In terms of position difference, ETH performed better than BTC because BTC has already touched the core support zone. The key support zone for ETH over the weekend is 1,533-1,575. There is still a possibility of closing the gap between the two assets, so keep an eye on their synchronization. When they are not moving in sync, stay cautious; when they move together in the same direction, the reliability of the trend increases, and appropriate participation can be considered. During the day, monitor the previous support zone of 1,575-1,639 for ETH. In the night session, a rebound occurred above the middle axis of this zone at 1,607, and nearby resistance levels are at 1,669-1,715. Therefore, you can try to use 1,669 as a short entry stop-loss, and 1,575 as a long entry stop-loss, waiting for the price to approach these levels to attempt long or short positions. PS: If there’s a sudden dip into the core support zone during the day, don’t panic too much; participation is still possible. (See the chart for details.)