Saturday, smoke rises over Tehran, all short positions are liquidated

The Middle East situation escalates, with the US and Israel launching airstrikes on Iran today. Bitcoin plummeted in response, dropping thousands of points during the Asian trading session. For the first time this week, it broke below $63,000. I mentioned earlier that when the US and Iran go to war, it's the day for a crypto market crash, and everything has come true. All short positions were effectively realized, taking in 5,000 points comfortably.

In the context of the overall trend and environment, it must fall when it’s supposed to. The so-called rapid rally is just to shake out shorts and lure in buyers. At any time, following the trend is the key. Today’s direction remains bearish. There’s a possibility that in the next day or two, it might test the previous low around 60,000. Use the rebound high of 64,200 during the European session as a reference point to short.

For Bitcoin, it’s recommended to short on rebounds to the 64,300-64,800 range, targeting around 60,000. Ethereum is also bearish in tandem, with a first target of 1,700. In a bear market, shorting is just picking up profits; the trend has always been downward.