Our team has over 7,000,000 traders!
Every day we work together to improve trading. We get high results and move forward.
Recognition by millions of traders all over the world is the best appreciation of our work! You made your choice and we will do everything it takes to meet your expectations!
We are a great team together!
InstaSpot. Proud to work for you!
Actor, UFC 6 tournament champion and a true hero!
The man who made himself. The man that goes our way.
The secret behind Taktarov's success is constant movement towards the goal.
Reveal all the sides of your talent!
Discover, try, fail - but never stop!
InstaSpot. Your success story starts here!
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.
*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.
