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21.04.202609:22 Forex Analysis & Reviews: Trading Recommendations for Bitcoin and Ethereum on April 21

Bitcoin and Ethereum managed to withstand the pressure and returned to growth in the second half of the day yesterday. Bitcoin is now trading at $76,000, while Ethereum is testing the $2,300 mark.

Yesterday, Vitalik Buterin, the founder of Ethereum, made a series of important statements at the Web3 Festival conference in Hong Kong. According to Buterin's proposed strategy, Ethereum is making a strategic choice that prioritizes reliability and manageability over instant transactions. The focus is on laying a foundation for various decentralized applications and digital assets while ensuring unprecedented security and sustainability.

Buterin noted that the prospect of ZKVM as a primary verification method by 2028 opens exciting opportunities for scaling. "The ability to prove EVM execution in real time while ensuring security is key to expanding Ethereum's functionality without compromising its decentralized nature," he stated.

The developer also highlighted short-term improvements, such as EIP-8141, aimed at native support for smart contract wallets, privacy, and quantum-resistant signatures. "As the world approaches the era of post-quantum computing, proactive steps in cryptographic security ensure that Ethereum remains protected and relevant in the face of new threats."

As a result, Ethereum saw a slight strengthening.

Regarding the intraday strategy in the cryptocurrency market, I will continue to rely on any significant pullbacks in Bitcoin and Ethereum, anticipating the continuation of the bullish market in the long term, which has not disappeared.

For short-term trading, the strategy and conditions are outlined below.

Bitcoin

Buy Scenarios

• Scenario No. 1: I plan to buy Bitcoin today when it reaches the entry point around $76,300, targeting a move to $77,000. At around $77,000, I will exit the purchases and sell immediately on the 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 No. 2: Bitcoin can also be bought from the lower boundary of $75,600 if there is no market reaction to its breakout back to levels $76,200 and $77,000.

Sell Scenarios

• Scenario No. 1: I plan to sell Bitcoin today when it reaches the entry point around $75,600, targeting a decline to $74,700. At around $74,700, I will exit the sales and buy immediately on the bounce. Before selling on a breakout, ensure 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 of $76,300 if there is no market reaction to its breakout back to levels $75,600 and $74,700.

Ethereum

Buy Scenarios

• Scenario No. 1: I plan to buy Ethereum today when it reaches the entry point around $2,329, targeting a move to $2,361. At around $2,361, I will exit the purchases and sell immediately on the 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 No. 2: Ethereum can also be bought from the lower boundary of $2,306 if there is no market reaction to its breakout back to levels $2,329 and $2,361.

Sell Scenarios

• Scenario No. 1: I plan to sell Ethereum today when it reaches the entry point around $2,306, targeting a decline to $2,271. At around $2,271, I will exit the sales and buy immediately on the bounce. Before selling on a breakout, ensure the 50-day moving average is above the current price and the Awesome indicator is below zero.
• Scenario No. 2: Ethereum can be sold from the upper boundary of $2,329 if there is no market reaction to its breakout back to levels $2,306 and $2,271.

*تعینات کیا مراد ہے مارکیٹ کے تجزیات یہاں ارسال کیے جاتے ہیں جس کا مقصد آپ کی بیداری بڑھانا ہے، لیکن تجارت کرنے کے لئے ہدایات دینا نہیں.

Miroslaw Bawulski,
Analytical expert of InstaSpot
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