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 plunged to the $88,000 area, and Ether traded around $2,900. This exerts additional pressure on traders who were counting on the continuation of the bull market, of which there is no trace left.
The situation around Greenland, the US and the EU, and the sharp investor risk aversion caused by Trump's introduction of new trade tariffs — all this negatively affects the crypto market, forcing investors to panic and to lock in both profits (for those who entered earlier this year) and losses (for those who did not wait for BTC to recover above $100,000).
Against the backdrop of geopolitical uncertainty and trade wars, the crypto market — always sensitive to external factors — is experiencing elevated volatility. Traders unaccustomed to rapid rallies and sell-offs are showing particularly nervous reactions to political and economic news. The flight from risky assets, triggered by Trump's protectionist measures, naturally leads to capital outflows from cryptocurrencies.
But it is important to remember that the crypto market is cyclical. After downturns, periods of growth inevitably follow. The question is only how long the current bear phase will last and what catalysts can bring investors back to risk. In the long term, cryptocurrencies retain investment potential, especially given decentralisation and blockchain development. However, in the short term, traders should be cautious, thoroughly analyse the situation and take geopolitical risks into account when making investment decisions.
Today, Trump will speak in Davos; his remarks may either prolong the current bear market or very quickly end it.
As for the intraday strategy in the crypto market, I will continue to act on large drawdowns in Bitcoin and Ether, while counting on the long-term continuation of the bull market, which has not gone away.
For short-term trading, the strategy and conditions are described below.
Scenario No. 1: I will buy Bitcoin today if the price reaches an entry around $90,000 with a target to rise to $91,300. Around $91,300, I will exit longs and sell immediately on the rebound. Before buying a breakout, make sure the 50-day moving average is below the current price and the Awesome indicator is above zero.
Scenario No. 2: Bitcoin can be bought from the lower boundary at $89,300 if there is no market reaction to its downside breakout, targeting $90,000 and $91,300.
Scenario No. 1: I will sell Bitcoin today if the price reaches an entry around $89,300 with a target down to $87,900. Around $87,900, I will exit shorts and buy immediately on the rebound. Before selling a breakout, make sure the 50-day moving average is above the current price and the Awesome indicator is below zero.
Scenario No. 2: Bitcoin can be sold from the upper boundary at $90,000 if there is no market reaction to its upside breakout, targeting $89,200 and $87,900.
Scenario No. 1: I will buy Ether today if the price reaches an entry around $2,999 with a target to rise to $3,048. Around $3,048, I will exit longs and sell immediately on the rebound. Before buying a breakout, make sure the 50-day moving average is below the current price and the Awesome indicator is above zero.
Scenario No. 2: Ether can be bought from the lower boundary at $2,961 if there is no market reaction to its downside breakout, targeting $2,999 and $3,048.
Scenario No. 1: I will sell Ether today if the price reaches an entry around $2,961 with a target down to $2,925. Around $2,925, I will exit shorts and buy immediately on the rebound. Before selling a breakout, make sure the 50-day moving average is above the current price and the Awesome indicator is below zero.
Scenario No. 2: Ether can be sold from the upper boundary at $2,999 if there is no market reaction to its upside breakout, targeting $2,961 and $2,925.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
