Bitcoin and Ethereum plummeted following speculation that Iran might block the Strait of Hormuz and begin bombing U.S. oil tankers in retaliation for American strikes. This triggered a massive sell-off of risk assets as investors, fearing a sharp increase in global economic instability, rushed to lock in profits and shift capital into safer instruments such as gold and the U.S. dollar.

The cryptocurrency market, known for its high volatility, proved particularly vulnerable to geopolitical risk. Uncertainty regarding further developments in the Middle East led many market participants to adopt a wait-and-see approach, which only intensified the downward pressure on Bitcoin and Ethereum.

The liquidation of highly leveraged positions further exacerbated the decline in cryptocurrency prices. Automatic stop-losses were triggered, causing a cascading price drop and panic among traders.

The prospects for a near-term recovery in the crypto market remain uncertain. Much will depend on whether further escalation in the Middle East can be avoided. Bitcoin and Ethereum may gradually regain lost ground if diplomatic efforts succeed and tensions ease. However, should the conflict intensify, the crypto market could face another wave of sell-offs. Investors are advised to exercise caution and carefully assess risks before making decisions.

Regarding intraday strategy, I will continue to rely on major pullbacks in Bitcoin and Ethereum as potential opportunities—anticipating that the medium-term bullish trend remains intact.

For short-term trading, the strategy and conditions are outlined below.

Bitcoin

Buy Scenario

Scenario #1: I plan to buy Bitcoin today upon reaching the entry point near $102,100, with a target of rising to $103,900. Around $103,900, I will exit long positions and immediately sell on the rebound.

Before buying on the breakout, make sure the 50-day moving average is below the current price and the Awesome Oscillator is above zero.

Scenario #2: Bitcoin can also be bought from the lower boundary of $100,800 if there is no market reaction to its breakout, with a reversal move back toward $102,100 and $103,900.

Sell Scenario

Scenario #1: I plan to sell Bitcoin today upon reaching the entry point near $100,800, targeting a drop to $98,800. I'll exit shorts around $98,800 and buy immediately on the rebound.

Before selling on the breakout, ensure the 50-day moving average is above the current price and the Awesome Oscillator is below zero.

Scenario #2: Bitcoin can also be sold from the upper boundary of $102,100 if there is no market reaction to its breakout, with a reversal move toward $100,000 and $98,800.

Ethereum

Buy Scenario

Scenario #1: I plan to buy Ethereum today upon reaching the entry point near $2,256, with a target of rising to $2,333. Around $2,333, I will exit long positions and sell immediately on the rebound.

Before buying on the breakout, confirm that the 50-day moving average is below the current price and the Awesome Oscillator is above zero.

Scenario #2: Ethereum can also be bought from the lower boundary of $2,216 if there is no market reaction to its breakout, with a reversal move back toward $2,256 and $2,333.

Sell Scenario

Scenario #1: I plan to sell Ethereum today upon reaching the entry point near $2,216, targeting a drop to $2,131. I'll exit shorts around $2,131 and buy immediately on the rebound.

Before selling on the breakout, verify that the 50-day moving average is above the current price and the Awesome Oscillator is below zero.

Scenario #2: Ethereum can also be sold from the upper boundary of $2,256 if there is no market reaction to its breakout, with a reversal move back toward $2,216 and $2,131.