Israel violated the ceasefire agreement, and the Strait of Hormuz has closed again! The late-night thoughts on the April 8th Bitcoin rally

Although the United States has already declared a ceasefire, Israel is still fighting in Lebanon, and the ceasefire agreement clearly states that Lebanon also needs to cease fire. Now, Iran is getting anxious and is not allowing passage through the Strait of Hormuz. President Trump even publicly claimed that the US-Iran ceasefire for two weeks does not include Lebanon and Hezbollah. Truly impressive!

The daytime strategy of shorting on rebounds was in line with expectations. Although the price surged strongly after the ceasefire and broke previous highs, it did not continue to rise intraday. The entry points for short positions given in the morning were just right for execution. The volatility was not large, but it was easy to gain 1,000 to 2,000 points on Bitcoin and 50 points on Ethereum. Currently, the battle between bulls and bears still depends on news stimuli, so I am not overly optimistic for the moment. Maintain the rebound-then-short strategy tonight!

Midnight thoughts on April 8th

Bitcoin rebound between 72,300-72,800, short with a stop around 73,500, targets at 71,500-71,000-70,500 near, and move stop-loss to break even based on situation!

Ethereum rebound between 2,250-2,280, short with a stop around 2,320, targets at 2,200-2,170-2,150 near, and move stop-loss to break even based on situation!

Maintain the early morning long position strategy!

Although there has been some progress in US-Iran negotiations, based on current information, it’s unlikely to reach an agreement. Both sides have claimed good progress, but it’s only verbal commitments so far. Moreover, the war has not ended after the agreements, so I remain skeptical. Caution is advised when chasing the rally! #加密市场回升