June 21 BTC/ETH Míshén Strategy

Happy weekend, the Strait of Hormuz has closed again, and Iran has stated that because the U.S. cannot restrain Israel, violating the Memorandum of Understanding, the fragile bilateral relations face another challenge. We previously discussed that the memorandum itself is just a temporary measure and no full consensus has been reached, so such friction is expected. No need for excessive panic; the technical aspect currently shows effectiveness.

BTC: The technical picture is very clear. The three major resistance levels have been reclaimed and then all lost again, now attempting once more. The larger timeframe is influenced by news, and there may still be a significant secondary bottom test. Therefore, it’s not recommended to chase. Currently, it’s in the second resistance zone, so short positions should use the upper boundary of the second resistance zone at 65,400 as a defense. Look for opportunities to participate below this level. As for the dip, last night there was a fake move below the first zone’s lower boundary, which is a good position. Now, look for a rebound to retest the midpoint of the first zone, using the lower boundary at 62,888 as a defense. (See the chart for details)

ETH: After bouncing twice at 1669 on the 19th, the current state is a slow recovery. The 1755-1790 zone is the first retracement area after the failed attempt to break 1848. Since it failed to stabilize and was broken through, it has now turned into near-term resistance. Therefore, ETH is likely to encounter resistance in this area. Pay attention to market signals: if there’s a sharp rise followed by a pullback, use 1790 as a defense. If it rises above 1790, then abandon the position. The bulls are still extending their positions on the dip, and no good opportunities have appeared yet. Keep an eye on key levels. #美伊谈判推迟 $ETH