A new week, a new beginning~
The US military launched a nighttime attack on the Strait of Hormuz in the early hours yesterday, causing the US-Iran conflict to escalate again and directly affecting global risk markets. The crypto market retreated across the board, while crude oil rose significantly, with market sentiment once again turning cautious and watchful.
Therefore, the key development to watch in this week's news remains the subsequent progress of the US-Iran conflict. Whether the situation continues to escalate or begins to ease will likely become a key factor determining whether the broader market continues rising this week or retreats again.
Judging from the current liquidation map, BTC, ETH, and SOL are all dominated by shorts, while the short liquidation zones above are relatively concentrated, indicating that the market has accumulated a considerable number of short positions in the short term. However, given the high uncertainty in the news, both bulls and bears are currently relatively cautious, and short-term volatility is expected to remain frequent.
Now let's look at the broader market trend. BTC's overall weekly volatility remains limited, and it is still in a weekly-range consolidation phase. No particularly clear directional signal has emerged for now, so further confirmation based on the news is still needed.
Personally, I believe BTC's weekly chart has resistance near 82000 and support near 73000.
On the daily chart, I believe today will most likely remain range-bound.
BTC: range-bound between 76500—79000
ETH: range-bound with a weak bias, expected to fluctuate between 2360—2500
SOL: likewise range-bound with a weak bias, expected to fluctuate between 98—105
Therefore, today's futures strategy will still focus on range trading:
BTC: go long on dips or go long around 77000, take profit at: 78500 / 79500
Conversely, go short at highs or go short around 79000, take profit at: 77500 / 76500
ETH: go long on dips or go long around 2380, take profit at: 2450 / 2500
Conversely, go short at highs or go short around 2500, take profit at: 2400 / 2360
SOL: go long on dips or go long around 99, take profit at: 103 / 105
Conversely, go short at highs or go short around 104, take profit at: 101 / 99
Overall, for now, today should still be treated as a range-bound market, and chasing rises or selling into declines in the middle of the range is not recommended. In particular, the US-Iran situation currently involves considerable uncertainty. If a new unexpected development emerges, volatility could expand significantly within a short period. Be sure to use stop-losses and manage your position size when trading futures.
$BTC $ETH