Brothers, good morning 🌞🌞🌞 On June 23, market analysis: how should we operate next?
Yesterday, Bitcoin fell below $100,000, and with today's unstable market, it may drop below $100,000 again [mainly depends on tonight].
The reason for the weekend's sharp drop was the U.S. bombing of Iran, leading to escalating conflict. Iran has also announced a meeting to approve the closure of the Strait of Hormuz, which is the most important shipping route in the world.
I believe many brothers want to know if there will be further crashes and how to operate in the upcoming market.
1. Despite Iran's meeting discussing the closure of the Strait of Hormuz, it is still not advisable because if it is closed, it would be like killing 1,000 while injuring 800. Although the meeting approved it, the Supreme Leader has not yet implemented it.
2. The situation will be resolved through negotiations because Iran’s position is too weak compared to the strength of the U.S. and Israel. The power dynamics are uneven, so there may be limited conflict followed by negotiations: first, a symbolic retaliation will be launched — the U.S. will pause further strikes — and then international mediation will restart.
3. The proportion of whales in the Bitcoin exchanges is still continuously increasing, with whales accumulating more chips. Once the Iranian issue is resolved, Bitcoin is expected to hit new highs again.
Currently, the entire market is at a relative position, with Bitcoin reaching the bull-bear dividing line. Bitcoin below $100,000 can still be safely purchased. For contract players, try not to leverage too much [high risk]. Ethereum is also primarily focused on buying on dips. Detailed points will be notified by Bao Ge. Those who want to keep up, hurry up 🥳🥳🥳
