No rest for the weekend, the U.S. and Iran have escalated again, and Bitcoin $BTC has also fallen back below 80k.
This morning the U.S. military confirmed strikes on 3 Iranian oil tankers, and Iran then warned that attacks on U.S. warships could continue to expand. Trump is still pressing for rate cuts, but after stronger-than-expected nonfarm payrolls came out, the market has already raised the probability of a September rate hike to nearly 60%.
However, on Friday spot Bitcoin ETFs still saw a net inflow of $174.6 million, marking the 3rd straight day of inflows, though that was 76 million less than the previous day. In plain terms, there are buyers, but selling pressure above 80k is stronger.
My short-term trade: short at 79950—80150, stop loss 80450, initial target 79500, and if that breaks, look for 78800
If the 1-hour chart holds above 80200, this trade is invalid; if it retests 80000, consider going long again, target 80700. Weekend news can easily cause sudden wicks, so keep your stop loss in place and don’t force it.
This morning the U.S. military confirmed strikes on 3 Iranian oil tankers, and Iran then warned that attacks on U.S. warships could continue to expand. Trump is still pressing for rate cuts, but after stronger-than-expected nonfarm payrolls came out, the market has already raised the probability of a September rate hike to nearly 60%.
However, on Friday spot Bitcoin ETFs still saw a net inflow of $174.6 million, marking the 3rd straight day of inflows, though that was 76 million less than the previous day. In plain terms, there are buyers, but selling pressure above 80k is stronger.
My short-term trade: short at 79950—80150, stop loss 80450, initial target 79500, and if that breaks, look for 78800
If the 1-hour chart holds above 80200, this trade is invalid; if it retests 80000, consider going long again, target 80700. Weekend news can easily cause sudden wicks, so keep your stop loss in place and don’t force it.
