Monday, Iran Situation Adds Pressure, Bitcoin Still Heading Down

As tensions in the Middle East continue to escalate and oil prices rise, Bitcoin briefly dropped below $66,000 yesterday. Our long positions have already been stopped out and cut. The current momentum shows no signs of bottoming out; after all, this kind of uncertainty and negative news will keep fermenting. Therefore, in the short term, we should follow the trend. Today, we continue to favor the short side.

The daily chart shows consecutive declines, and after a brief correction, there may be further downward movement. However, it’s not advisable to chase aggressively. Patience is key—wait for a rebound to around 67,500, which is a critical level, before entering. The large-range whipsawing tests key points, so we must avoid blind trading. Later, with the switch to daylight saving time, US stocks open at 9:30 PM, bringing fast-paced volatility that should be anticipated in advance.

Ethereum also follows a bearish outlook, looking to short. Refer to the cloud dragon below 1980, with an initial target of 1850, and a further breakdown target of 1760.