US–Iran sees a rapid reversal—bulls are weak, so be cautious about chasing shorts! 6.29 BTC & ETH thoughts



The US–Iran ceasefire has only been in effect for eleven days, yet it is already in danger because the two sides have resumed fighting and there are threats about restarting the war—“completing the mission,” by that “yellow-haired” figure. Today brings yet another big reversal: both sides have agreed to a ceasefire and are set to meet in the Qatari capital on Tuesday to resolve the dispute caused by the Strait of Hormuz. Last Friday, the long setup for BTC was spot on and hit accurately. Because the two sides resumed clashes, the long positions with stop-losses placed have already been taken out; shorting one round of Ethereum around 1600 has also currently collected dozens of points!

The daily BTC/ETH low-level doji has not gained momentum. If the two sides hadn’t stirred things up like this, there would likely have been an opportunity to capture a big move and take a large chunk of profit. But since neither side is willing to back down, it’s hard for the bulls to push—so for now, just trade with caution around the recent high–low range. Break the level and follow the move!

## 6.29 Long Ideas:

BTC: Pull back to 58000-58500 to go long. Defense around 57000. Targets: 59500-6万-60500. If it breaks down, watch 61000-62000-63000. If it continues breaking down, watch the upper band around 66000.

ETH: Pull back to 1500-1530 to go long. Defense around 1460. Targets: 1580-1600-1630. If it breaks down, watch 1650-1680-1700. If it continues breaking down, watch the upper band around 1800.

## 6.29 Short Ideas:

BTC: Bounce to 61500-62000 to short one. Defense at 63000. Targets: 61000-6万-59500. If it breaks down, watch 59000-58500-58000.

ETH: Bounce to 1630-1650 to short one. Defense around 1700. Targets: 1600-1550. If it breaks down, watch 1500-1460.

The overall trend is still bearish, but we need to focus on whether the recent lows can hold—BTC 58000, ETH 1500. Around here, try going long a bit more, include a stop-loss, and see whether the US–Iran talks will lift the market!
ETH0.30%
BTC-0.62%
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ConanTrendIsKing
· 1h ago
The overall trend remains bearish, but attention should be focused on whether the recent lows can hold — Bitcoin at 58,000, Ethereum at 1,500. Try going long around these levels with a stop loss, and see if the U.S.-Iran negotiations boost the market!
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