The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
Bitcoin continued its ongoing recovery yesterday, reaching a level of $78,100 today. Ethereum also rose, hitting $2,154, but that's where the positive momentum ends.
The bullish momentum in the cryptocurrency market continues to fade. Spot ETFs for Bitcoin and Ethereum are experiencing sustained outflows, signaling that large players are using the recent small upward correction as a convenient moment to exit their positions. BlackRock made a notable move: it transferred 4,986 BTC (approximately $386.2 million) and 28,081 ETH (approximately $59.8 million) to the Coinbase Prime exchange. The transfer of assets to an exchange is traditionally interpreted by the market as a signal of intent to sell, and in this context, it's hard to interpret otherwise.
The developments indicate synchronous pressure from both institutional investors and retail traders: they are selling Bitcoin and Ethereum amid the local price bounce. When the world's largest asset manager consistently moves hundreds of millions of dollars onto an exchange, it creates a strong bearish signal for the entire market. Until the outflows from ETFs turn into inflows and such transfers cease, it is premature to speak of a recovery of a sustainable upward trend.
Regarding the intraday strategy in the cryptocurrency market, the strategy and conditions are outlined below.
Scenario No. 1: I plan to buy Bitcoin today upon reaching an entry point around $77,900, aiming for growth to level $78,500. At around $78,500, I will exit the buy trades and sell immediately on the bounce. Before buying on a breakout, ensure that the 50-day moving average is below the current price and that the Awesome indicator is above zero.
Scenario No. 2: I can buy Bitcoin from the lower boundary of $77,600 if there is no market reaction to its breakout in the opposite direction towards levels $77,900 and $78,500.
Scenario No. 1: I plan to sell Bitcoin today upon reaching an entry point around $77,600, with a target for a decline to level $77,300. At around $77,300, I will exit the sell trades and immediately buy back on the bounce. Before selling on a breakout, ensure that the 50-day moving average is above the current price and that the Awesome indicator is below zero.
Scenario No. 2: I can sell Bitcoin from the upper boundary of $77,900 if there is no market reaction to its breakout in the opposite direction towards levels $77,600 and $77,300.
Scenario No. 1: I plan to buy Ethereum today upon reaching an entry point around $2,138, targeting growth to level $2,161. At around $2,161, I will exit the buy trades and sell immediately on the bounce. Before buying on a breakout, ensure that the 50-day moving average is below the current price and that the Awesome indicator is above zero.
Scenario No. 2: I can buy Ethereum from the lower boundary of $2,129 if there is no market reaction to its breakout in the opposite direction towards levels $2,138 and $2,161.
Scenario No. 1: I plan to sell Ethereum today upon reaching an entry point around $2,129, with a target for a decline to level $2,109. At around $2,109, I will exit the sell trades and immediately buy back on the bounce. Before selling on a breakout, ensure that the 50-day moving average is above the current price and that the Awesome indicator is below zero.
Scenario No. 2: I can sell Ethereum from the upper boundary of $2,138 if there is no market reaction to its breakout in the opposite direction towards levels $2,129 and $2,109.
*এখানে পোস্ট করা মার্কেট বিশ্লেষণ আপনার সচেতনতা বৃদ্ধির জন্য প্রদান করা হয়, ট্রেড করার নির্দেশনা প্রদানের জন্য প্রদান করা হয় না।
ইন্সটাফরেক্স বিশ্লেষণমূলক পর্যালোচনাগুলো আপনাকে মার্কেট প্রবণতা সম্পর্কে পুরোপুরি সচেতন করবে! ইন্সটাফরেক্সের একজন গ্রাহক হওয়ায়, দক্ষ ট্রেডিং এর জন্য আপনাকে অনেক সেবা বিনামূল্যে প্রদান করা হয়।
