Copy: July 12 trading plan:

Last night, ETH briefly rose, and in the early session it fell sharply due to a sudden news-driven development.

On the fundamentals, at 7:50 this morning, there was news indicating that the U.S. military said it has begun the third round of strikes against Iran within a week, and Iran’s Islamic Revolutionary Guard Corps announced the closure of the Strait of Hormuz. At the same time, Iran struck U.S. targets in the Middle East. Fighting between Iran and the U.S. has flared up again, the market is once again uncertain—be cautious in case the conflict eases again and enters a new round of negotiations.

Technically, the 4-hour chart holds above the 1808 platform resistance. In the early session, influenced again by the news, price returned below the 1808 resistance. The upward move is temporarily paused, and it has entered a range-bound adjustment mode. On the 1-hour chart, the market is currently pulling back and adjusting, but it has not yet entered a bearish trend. The main trading range is 1832-1789.

For today’s trading, we still follow the range-bound upward trend. Use 1789 as the long/short boundary. If it retests lower but does not break, give a reversal-to-up signal, and you can still go long, with a stop-loss below 1780. Or, if it breaks above 1831, go long with a stop-loss below 1800; targets to watch are 1848 and 1900. Bearish signals require a drop below 1789; and the downside room only looks to 1757—whether to short is optional.