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$BTC Can you chase more?
Early Monday morning at 5 am, the US and Iran announced "a peace agreement" and temporarily stopped fighting? The strait reopens, with the official signing of the agreement tentatively scheduled for June 19 in Switzerland.
Once the news broke, without the influence of the US stock market, this news directly shot the price up to $66,000 like a deep-water bomb, causing the short-sellers to panic and faint. Ethereum surged to the 1732 level, nearly a 5x increase.
From a technical perspective, there is resistance above, mainly driven by news sentiment. In the next few hours, if the price continues to consolidate sideways, the US stock market opening tonight will very likely trigger a second surge.
Near the resistance level at a high position, Luo Jie does not recommend chasing.
Luo Jie suggests:
Bitcoin retrace to around 64,900-65,000 for a long entry.
Ethereum retrace to around 1,690-1,700 for a long entry.