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Bitcoin is once again trading at $66,500, having significantly dropped during the morning Asian session. Ethereum is also aiming to return to the $2,000 mark, having failed to hold above $2,150.
Recent news regarding US President Donald Trump's intentions towards Iran has caused significant upheaval in global financial markets. Statements about Washington's readiness to continue intensive bombings and refusal to seek a diplomatic settlement have triggered a sharp sell-off in risk assets. Investors, amid rising geopolitical tensions, rushed to protect their portfolios, favoring more conservative instruments.
This wave of selling has also affected the cryptocurrency market, which, being highly sensitive to broader-market sentiment, has seen substantial declines. Digital assets, widely perceived as highly risky, have come under pressure alongside traditional stocks and other speculative instruments. The correlation between cryptocurrencies and traditional risk assets has once again been vividly manifested, highlighting their interdependence in conditions of global uncertainty.
The decline followed a period of relative stability, during which Trump had recently stated that the war in the Middle East would end soon.
As for the intraday strategy in the cryptocurrency market, I will continue to act based on any significant pullbacks in Bitcoin and Ethereum, counting on the continued development of the bullish market in the long term, which has not disappeared.
Regarding short-term trading, the strategy and conditions are outlined below.
Scenario 1: I will buy Bitcoin today upon reaching an entry point around $66,900, with a target price of $67,700. I will exit my buys around $67,700 and immediately sell on a bounce. Before buying on a breakout, ensure the 50-day moving average is below the current price and the Awesome indicator is above zero.
Scenario 2: I can buy Bitcoin from the lower boundary of $66,400 if there is no market reaction to a breakout back towards the levels of $66,900 and $67,700.
Scenario 1: I will sell Bitcoin today upon reaching an entry point around $66,400, with a target decline to $65,400. I will exit my sales around $65,400 and immediately buy on a bounce. Before selling on a breakout, ensure the 50-day moving average is above the current price and the Awesome indicator is in the negative zone.
Scenario 2: I can sell Bitcoin from the upper boundary of $66,900 if there is no market reaction to a breakout back towards the levels of $66,400 and $65,400.
Scenario 1: I will buy Ethereum today upon reaching an entry point around $2,054, with a target price of $2,077. I will exit my buys around $2,077 and immediately sell on a bounce. Before buying on a breakout, ensure the 50-day moving average is below the current price and the Awesome indicator is above zero.
Scenario 2: I can buy Ethereum from the lower boundary of $2,040 if there is no market reaction to a breakout back towards the levels of $2,054 and $2,077.
Scenario 1: I will sell Ethereum today upon reaching an entry point around $2,040, with a target decline to $2,013. I will exit my sales around $2,013 and immediately buy on a bounce. Before selling on a breakout, ensure the 50-day moving average is above the current price and the Awesome indicator is in the negative zone.
Scenario 2: I can sell Ethereum from the upper boundary of $2,054 if there is no market reaction to a breakout back towards the levels of $2,040 and $2,013.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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