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Thursday: Consolidation adjustment in weak trend, continuing northbound movement
An arrow that's already nocked must be released. The 71,200 long position from yesterday is still in hand, so please don't ask me how I see today's market. For intraday short-term operations, we can rely on the overnight retracement low at 70,400 as support for long positions targeting an upside breakout.
Currently, the US-Iran situation is in a tug-of-war with extreme tensions, and various news is flying everywhere. The longer this drags out, the smaller the impact will become. Once a ceasefire occurs and oil prices decline, capital will flow back to US stocks and the US dollar index, which would be absolutely bullish for crypto!
Bitcoin: Consider buying in the 70,000-70,500 range, with target at 72,500. Enter with light positions and reserve capital for adding to positions.
Ethereum: Consider buying in the 2,120-2,145 range, with target at 2,250. Enter with light positions and reserve capital for adding to positions.
That's all for today, wishing everyone smooth sailing ahead.