Greener Candles Crypto Market Analysis - 15/06/25

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I see traders often mention that they are trading charts only, but I think there's always some kind of a narrative behind every one that we just can't ignore and at the moment, it's the situation in the Middle East.

Missiles are still flying on both sides, and uncertainty remains. Israel said that they've prepared for a long operation, while the possibility of Iran closing the Strait of Hormuz is still in play. This, and if Israel should be targeting any oil facilities, would send the oil price sky high, but would be devastating for risk assets such as crypto.

Since we have no control over the nutters, we can only monitor and analyse charts and prepare for a potentially very volatile week ahead.

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BTC

To be honest, this morning's Bitcoin price action got me a bit worried.

On the 4-hour chart, BTC touched the 200MA (purple line) but was rejected, which resulted in this long-wicked downward candle.

Previously, Bitcoin has successfully used the 200MA as a support and has been bouncing nicely off it. However, the 4-hour 200 has now been turned into a resistance as this was the second time BTC got rejected from there in a short while.

Unless we are going to see a quick flip on the upside of the moving average, I'm going to sit out for now. No leverage, no spot trading.

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SUI

Before BTC was rejected, I did make some trades and bought some spot $SUI.

If you look at the Relative Strength Index (RSI) at the bottom of the chart, you notice that $SUI was in the oversold zone at the time of the buy.

This would have actually worked better as a long scalp trade, since even though assets usually bounce back from oversold territory, it's often short-lived if the general market sentiment is against us. Here we can see SUI printing a lower high, getting rejected and going back down again.

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INJ

I also made a bit risky and foolish perps trade for the weekend. INJ looked promising to me as it had bounced back up from the support. So, I opened a 3x long with TP & SL seen here in green and red.

In hindsight, I should have considered the macro uncertainty, even though INJ has been performing very well recently. On normal weekends, this would've probably climbed up slowly from the bottom, but since BTC is suffering, the alts are feeling the pain as well.

On the technical side, we can see INJ getting rejected from the descending trendline while getting close to the support level again. I still have some room beneath the support, but this is probably a lost trade unless we see a strong bounce and breaking of the trendline soon.

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HYPE

Sorry about the messy chart, but I just had to bring this up. $HYPE looks very interesting on the 1-hour chart as the 200MA is getting closer to the price.

As you can see, HYPE has successfully used the moving average as support previously (blue arrows). Currently, HYPE is in a descending flag pattern, which is often seen as bullish, so bounce back up from the 200MA and breaking the upside trendline could yet again send HYPE to new highs.

Losing the 200MA and turning it into resistance would obviously send HYPE lower, maybe to test the $36 level.

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Conclusion

Lesson learned:

• Don't open longs for the weekend when wackos are still firing missiles
• Even spot trades can be bad ideas in this environment
• Touch grass, educate yourself, sit on your hands, move into stablecoin

That's about it. Have you been trading this weekend? Share your experience in comments below 👇🟢

Thank you for reading and have a great rest of the weekend!

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