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Bitcoin broke above $67,000 yesterday, and Ethereum nearly reached $1,850, marking a significant intraday rise. However, it is now trading at $1,770, while Bitcoin is trying to regain the $66,500 level.
It appears that news of a peace agreement between the US and Iran has bolstered demand for risk assets, including cryptocurrencies. Meanwhile, the company Strategy continues to impress, proving that it is not ready to back down. According to an 8-K report filed with the SEC on Monday, from June 8 to 14, the company acquired an additional 1,587 bitcoins for approximately $100 million at an average price of $63,024 per coin. Following this transaction, the company's total reserve reached 846,842 bitcoins, valued at around $56 billion, purchased at an average price of $75,656 per coin—about $64.1 billion after accounting for fees. Simple arithmetic reveals a painful reality: at current prices, Strategy's position is at a loss of approximately $8.1 billion. Nonetheless, the company continues to buy back—this marks the second consecutive week, following a symbolic sale of 32 coins at the end of May, which sparked a wave of rumors about financial difficulties but appeared more like market manipulation aimed at creating a panic sell so it could buy back at lower prices.
As long as the market accepts this strategy, Strategy can continue to accumulate positions even in a declining market. However, if Bitcoin prices continue to decline towards the $53,000 mark, as CryptoQuant warned, and demand for MSTR shares weakens, this mechanism may start to work in reverse. The average entry price of $75,656, compared with the current $65,000, shows how high the stakes are in this game.
Regarding short-term trading, the strategy and conditions are outlined below.
Scenario #1: I plan to buy Bitcoin today when the entry point reaches around $66,500, with a target for growth to the level of $67,300. At around $67,300, I intend to exit my purchases and sell immediately on the bounce (expecting a movement of 30-35 points in the opposite direction from the level). It is best to return to buying the pair on corrections and significant dips in USD/JPY. Important! Before buying on a breakout, ensure that the 50-day moving average is below the current price, and the Awesome indicator is above zero.
Scenario #2: I also plan to buy Bitcoin from the lower bound of $66,100 if there is no market reaction to its breakout back down to levels $66,500 and $67,300.
Scenario #1: I plan to sell Bitcoin today after reaching the entry level of $66,100, targeting a drop to $65,300. At around $65,300, I intend to exit my sales and immediately buy in the opposite direction (expecting a movement of 20-25 points in the opposite direction from the level). Pressure on the pair can return at any moment. Important! Before selling on a breakout, ensure that the 50-day moving average is above the current price, and the Awesome indicator is below zero.
Scenario #2: I also plan to sell Bitcoin from the upper bound of $66,500 if there is no market reaction to its breakout back down to levels $66,100 and $65,300.
Scenario #1: I plan to buy Ethereum today when the entry point reaches around $1,777, with a target for growth to the level of $1,807. At around $1,807, I intend to exit my purchases and sell immediately on the bounce (expecting a movement of 30-35 points in the opposite direction from the level). Important! Before buying on a breakout, ensure that the 50-day moving average is below the current price, and the Awesome indicator is above zero.
Scenario #2: I also plan to buy Ethereum at the lower bound of $1,713 if there is no market reaction to its breakout back down to $1,725 and $1,745.
Scenario #1: I plan to sell Ethereum today after reaching the entry point around $1,713, targeting a drop to $1,695. At around $1,695, I intend to exit my sales and immediately buy in the opposite direction (expecting a movement of 20-25 points in the opposite direction from the level). Important! Before selling on a breakout, ensure that the 50-day moving average is above the current price, and the Awesome indicator is below zero.
Scenario #2: I also plan to sell Ethereum from the upper bound of $1,725 if there is no market reaction to its breakout back down to the levels of $1,713 and $1,695.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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