Iran closes the Strait of Hormuz again—hold your short positions patiently! 7.12 BTC & ETH trading plan

In the early hours of the 12th, the Navy of Iran’s Islamic Revolutionary Guard Corps announced that the Strait of Hormuz will be closed starting immediately, and that no vessels may pass through. The statement said that Iran had previously stated that any actions by foreign forces to interfere in affairs related to the Strait of Hormuz, and any behavior of illegally designating shipping routes, would invite Iran’s “firm and resolute response.” Given that foreign forces’ illegal interference has created an unsafe situation, the Strait of Hormuz will be closed starting immediately until further notice, and until the United States stops interfering in this region. The statement also warned that if the U.S. uses this incident as an excuse to launch new attacks on Iran, Iran will respond with a fierce blow and strike more U.S. bases in the Middle East. But then the U.S. Secretary of Defense publicly stated: “Iran is paying for its wrong choice.” After that, multiple areas in southern Iran were hit by U.S. military strikes. Just hold your short positions patiently—if you didn’t get on the train, the rebound will keep getting trapped!

7.12 short setup:

For BTC, place a short with one hand on the rebound at 64,000-64,500; defend around 65,500; targets around 63,000-62,500-62,000; if it breaks down, watch around 61,000-60,500-60,000; continue to trail the stop-loss and take profit based on conditions!

For ETH, continue to short with one hand on 1,790-1,820; defend above 1,860; targets around 1,730-1,700; if it breaks down, watch 1,650-1,630-1,600; continue to trail the stop-loss and take profit based on conditions!

7.12 long setup:

For BTC, add one long on a pullback around 60,000; defend around 59,000; targets around 61,000-61,500-62,000; if it breaks through, watch around 62,500-63,000

For ETH, add one long on a pullback around 1,600-1,630; defend around 1,570; targets around 1,650-1,700-1,720; if it breaks through, watch around 1,750-1,780

With the situation between the U.S. and Iran, and Russia and Ukraine, so tense, under these conditions any rebound is just a brief flash—so be cautious about chasing the price higher!