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Bitcoin attempted to drop below $80,000 once again yesterday but failed once more. This keeps the prospects for continued trading within the $80,000–$82,500 channel. Ethereum also slightly recovered after a strong bearish attempt to push through the $2,260 support level.
In the absence of interesting news from the cryptocurrency market, attention has shifted to the announcement that financial giant Charles Schwab will gradually launch innovative "Schwab Crypto" accounts for its retail clients, ushering in a new era of integrating cryptocurrency assets into the traditional investment ecosystem. This strategic move underscores the growing confidence of major Wall Street players in the potential of digital currencies, despite the market's volatility and regulatory challenges.
The first privileged users have already gained access to direct trading of Bitcoin and Ethereum within a single mobile application. Now, without leaving their familiar platform, traders can simultaneously manage positions in crypto assets, stocks, exchange-traded funds (ETFs), bonds, and other traditional instruments. This seamless integration simplifies portfolio diversification while minimizing fees and risks associated with switching between platforms.
I would like to remind you that Charles Schwab is one of the largest brokers in the US, with client assets exceeding $12.2 trillion. The company serves millions of retail and institutional investors, offering tools for all levels of experience—from beginners to professionals. The launch of "Schwab Crypto" follows similar initiatives by competitors such as Fidelity and Robinhood, but it emphasizes security and compliance with the SEC's strict regulatory standards.
This move could act as a catalyst for a massive influx of traditional investors into the cryptocurrency market, thereby enhancing the liquidity of BTC and ETH.
I will continue to act based on any significant pullbacks in Bitcoin and Ethereum, with the expectation of the continued development of a bullish market in the long term, which remains intact.
As for short-term trading, the strategy and conditions are described below.
Scenario #1: I plan to buy Bitcoin today upon reaching an entry price around $81,300, targeting a move to $82,200. At around $82,200, I plan to exit the buy trades and immediately sell on the bounce. Before buying on a breakout, ensure the 50-day moving average is below the current price and the Awesome indicator is in the positive zone.
Scenario #2: I can buy Bitcoin from the lower boundary of $80,900 if there is no market reaction to its breakout back towards $81,300 and $82,200.
Scenario #1: I plan to sell Bitcoin today upon reaching an entry price around $80,900, targeting a drop to $80,000. At around $80,000, I will exit the sell trades and immediately buy on the 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 $81,300 if there is no market reaction to its breakout back towards $80,900 and $80,000.
Scenario #1: I plan to buy Ethereum today upon reaching an entry price around $2,308, targeting a move to $2,330. At around $2,330, I will exit the buy trades and immediately sell on the bounce. Before buying on a breakout, ensure the 50-day moving average is below the current price and the Awesome indicator is in the positive zone.
Scenario #2: I can buy Ethereum from the lower boundary of $2,293 if there is no market reaction to its breakout back towards $2,308 and $2,330.
Scenario #1: I plan to sell Ethereum today upon reaching an entry price around $2,293, targeting a drop to $2,267. At around $2,267, I will exit the sell trades and immediately buy on the 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 $2,308 if there is no market reaction to its breakout back towards $2,293 and $2,267.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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