Gu Jingci: Bitcoin/Ethereum Trading Strategy with Market Analysis (May 28)

Bitcoin/Ethereum ended its multi-day winning streak. Long positions opened last night at 2055 and 94900 were closed at 94000 and 2030 respectively. The current market is experiencing a rapid decline due to the US-Iran tensions. Such rapid declines driven by news are often followed by rapid rebounds. The US-Iran tensions are not a short-term issue and will likely see a prolonged period of back-and-forth, with the impact gradually diminishing. Bitcoin and Ethereum fell rapidly, reaching lows of around 73350 and 1970 respectively. Shorting after this rapid decline is not advisable. Watch for key support levels at 72000 and 1930-1940, which also represent the support level of the previous downward consolidation range. Trading suggestions: Buy Bitcoin around 73000-73400, with a target of 75000-76000; Buy Ethereum around 1975-1985, with a target of 2040-2070. (Note: The last two sentences appear to be unrelated and likely represent separate entries.)