Crude oil prices soar, and Biden takes action to cool them down. March 4th Bitcoin (BTC) trading strategy

Biden announced on Tuesday that the White House will provide naval escort and political risk insurance for oil tankers passing through the Strait of Hormuz. This move aims to stabilize energy prices that have surged over $10 per barrel since Saturday when the US and Israel began strikes against Iran. This news offers some relief to the overheated crude oil market, curbing the rally driven by Iran’s warning of attacks on ships in this vital passage. However, energy markets remain concerned that key oil and gas assets in the Persian Gulf could become targets of Tehran’s strikes.

The recent short-term rebound trading ideas given the day before yesterday and yesterday have performed as expected. The Bitcoin (BTC) short positions have been precisely filled, and BTC could gain three to four thousand points, while Ethereum (ETH) could gain 150 to 160 points. The evening rebound continuation short idea has also been executed. Those who follow can patiently hold! If there's an opportunity, take a breakeven stop-loss! For those who missed the entry, the rebound can still be used for positioning!

3.4 Short-term trading ideas

For BTC: Continue shorting on rebounds between 68,500-69,000. Conservative traders can enter at 69,500-70,000 with a stop around 71,000, targeting 67,000-66,000. If broken, look for 65,000-64,000, and move stops accordingly based on market conditions!

For ETH: Continue shorting on rebounds between 2,000-2,030. Conservative traders can enter at 2,070-2,100 with a stop around 2,140, targeting 1,950-1,920-1,900. If broken, look for 1,850-1,830, and move stops accordingly based on market conditions!

3.4 Long-term trading ideas

For BTC: Try to go long on a pullback to 63,000-63,500, with a stop around 62,000. Target 65,000-66,000, and if broken, look for 67,000-68,000, moving stops accordingly based on market conditions!

For ETH: Try to go long on a pullback to 1,800-1,830, with a stop around 1,750. Target 1,900-1,930-1,950, and if broken, look for 1,970-2,000-2,030, moving stops accordingly based on market conditions!

The crypto price has been oscillating in a range for a long time without breaking out. It initially formed a bottom successfully, but the instability in the Middle East has dealt a heavy blow to the bulls. Currently, the overall trend is weak, so it’s best to treat it as a range for now. Steady compound gains are recommended! #美伊局势影响