Surprised or not, unexpected or not—the Iran-U.S. negotiations have ended. Big rally then a big drop. Crude oil surges violently.

The first formal round of talks between the U.S. and Iran over the weekend ended in a way that, basically, achieved no meaningful progress. The main disputes were still over who would control the Strait of Hormuz and over uranium enrichment research—these are the requirements insisted on by the U.S. This also touched Iran’s bottom line, so the first round of talks ended unhappily. However, both sides also left open the possibility of further negotiations. At the same time, the U.S. announced a blockade of the Strait of Hormuz, making it impossible for Iran’s own crude oil to pass through, and said that the next step of strikes would be carried out at any time—putting significant pressure on Iran. Iran also publicized that it had made preparations, and for a moment the market became chaotic again.

Early on Saturday, positions were set to go short at 735-739. Yesterday’s early-morning surge lifted “the big bet” up to around 737, then precisely cut in again—looking to drop to 715 after breaking through support; then to 709. The next target is 695. Currently, the market is around 710, with room to move both up and down. Below, the only minor support is at 70,000-704. Resistance above is at 721.

BTC trading suggestion: short 717-721. Defense: 73000. Target: 697—if broken, then look at 691, and if it breaks again, 684.

ETH trading suggestion: short 2240-2255. Defense: 2280. Target: 2160—if broken, then look at 2130.

A small boat drifting in the sea—if you don’t raise your sails, you’ll always drift in the ocean. Only the current price can truly provide protection. $BTC ‌$ETH ‌