June 23 BTC Trading Perspective

Last night, BTC plummeted due to news of the blockade of the Strait of Hormuz. After a midnight sell-off that broke through the strong support at 100,800, it fell to a low of around 98,000, but then experienced a sharp rebound.

Currently, there are signs of recovery, but the ongoing situation of war continues to escalate, and market sentiment remains low. If further news triggers a sell-off that breaks below the 100,000 mark, the bearish trend will likely continue to deepen.

Today, first pay attention to the strong resistance area at 102,200. Until this level is broken and stabilized, be cautious when chasing long positions. The primary strategy should be to focus on short positions, with an initial target at 101,800, and lower targets at 99,500 and 98,000.