The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
Bitcoin faced some challenges around $89,000 yesterday but recovered well to the $93,000 level, around which trading is currently taking place. Ethereum also showed growth in the afternoon, firmly establishing itself above the $3,200 mark.
At the same time, according to CoinGecko data, publicly traded companies that are actively buying Bitcoin now hold over 5% of its total supply on their balance sheets. Notably, the company Strategy holds a full 3%. This trend, gaining momentum over the past few years, indicates increasing recognition of Bitcoin as a legitimate asset class and a means of storing value.
The significant increase in the share of Bitcoin controlled by public companies underscores a shift in the perception of cryptocurrencies from a speculative instrument to a strategic component of corporate portfolios. However, it should be noted that in the third quarter, Bitcoin purchases by many companies sharply slowed, indicating a phase of an overheated market. Nonetheless, Strategy's influence in this sector remains substantial. This company has continued to buy Bitcoin even during its sharp decline observed in November this year, reflecting its firm strategy.
As for the intraday strategy in the cryptocurrency market, I will continue to rely on any major dips in Bitcoin and Ethereum, anticipating the continuation of a bullish market in the medium term, which remains intact.
For short-term trading, the strategy and conditions are outlined below.
Scenario #1: I plan to buy Bitcoin today when it reaches the entry point around $93,000, with a target for growth to the level of $94,500. Around $94,500, I will exit my purchases and sell immediately on the bounce. Before buying on the breakout, make sure that the 50-day moving average is below the current price and that the oscillator is in the zone above zero.
Scenario #2: Buying Bitcoin is possible at the lower boundary of $91,900 if there is no market reaction to its breakout back to $93,000 and $94,500.
Scenario #1: I plan to sell Bitcoin today when it reaches the entry point around $91,900, with a target decline to $90,500. Around $90,500, I will exit my sales and buy immediately on the bounce. Before selling on a breakout, make sure the 50-day moving average is above the current price and the Awesome oscillator is in the zone below zero.
Scenario #2: Selling Bitcoin is possible at the upper boundary of $93,000 if there is no market reaction to its breakout back to $91,900 and $90,500.
Scenario #1: I plan to buy Ethereum today when it reaches the entry point around $3,278, with a target for growth to the level of $3,320. Around $3,320, I will exit my purchases and sell immediately on the bounce. Before buying on the breakout, make sure that the 50-day moving average is below the current price and that the Awesome oscillator is in the zone above zero.
Scenario #2: Buying Ethereum is possible from the lower boundary of $3,241 if there is no market reaction to its breakout back to levels of $3,278 and $3,320.
Scenario #1: I plan to sell Ethereum today when it reaches the entry point around $3,241, with a target decline to $3,178. Around $3,178, I will exit my sales and buy immediately on the bounce. Before selling on a breakout, make sure the 50-day moving average is above the current price and the Awesome oscillator is in the zone below zero.
Scenario #2: Selling Ethereum is possible from the upper boundary at $3,278 if there is no market reaction to its breakout back to $3,241 and $3,178.
*Analiza tržišta koja se ovde nalazi namenjena je boljem razumevanju tržišta i ne pruža instrukcije za vršenje trgovanja.
Uz InstaSpot-ove analitičke preglede uvek ćete biti u toku sa tržišnim trendovima! Klijentima InstaSpot-a su dostupni mnogobrojni besplatni servisi za uspešno trgovanje.
