The coin price rebounded as expected—long positions are eating again! 6.26 Bitcoin and Ethereum strategy

The U.S.-Iran situation has led the market to generally expect that war will keep pushing oil prices higher in the long run. However, the Strait of Hormuz has reopened after being free of charge for 11 days only. With supply recovery and demand adjustments both far exceeding expectations, international oil prices quickly gave back all of the gains made during the conflict. The long ideas I shared yesterday played out in two rounds—both times we were able to take profit. Although it didn’t give us the chance to hold for a long-term position, the results were still pretty good!

Bitcoin and Ethereum both saw three consecutive daily bearish candles on the chart of daily timeframe. In the morning, the bearish setup continues, but Bitcoin hasn’t broken down below yesterday’s low. Ethereum has made a new low, but it’s currently being capped by the 1500 level. So for today, focus on the strong resistance at 58000/1500. During the day, you can continue adding longs near the lows!

**6.26 Long Ideas:**

For Bitcoin, enter a long at 58000-58500 with one position. Set the stop loss around 57000. Targets to watch: 59500-60000-60500. If it breaks through, watch 61000-62000-63000. Continue with a trailing stop; take profit based on the situation!

For Ethereum, enter a long at 1500-1530 on a pullback with one position. Set the stop loss around 1460. Targets to watch: 1580-1600-1630. If it breaks through, watch 1650-1680-1700. Continue with a trailing stop; take profit based on the situation!

**6.26 Short Ideas:**

For Bitcoin, on the rebound around 63000, try a short position with one position. Set the stop loss at 64000. Targets to watch: 62000-61000-60000. If it breaks through, watch 59000-58500-58000.

For Ethereum, on the rebound around 1700, try a short position with one position. Set the stop loss at 1750. Targets to watch: 1650-1600. If it breaks through, watch 1550-1500.

There’s no capital inflow, so the longs don’t have enough strength. Wait patiently—maybe only after a big pullback in U.S. stocks will funds rotate into the crypto market. If you don’t get the chance to trade medium- to long-term, then slowly trail the stop loss and catch a swing!