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10.04.202609:44 Forex Analysis & Reviews: Trading Recommendations for the Cryptocurrency Market on April 10

Relevancia 03:00 UTC--4

Bitcoin today reached $73,000, but then quickly dropped back to its favored level of $71,500. Ethereum also jumped to $2,243 before descending to around $2,185.

Reports indicate that Iran is charging or plans to charge fees for tankers passing through the Strait of Hormuz, which is fueling demand in the cryptocurrency market. Iran intends to accept payments only in cryptocurrency. A $1 fee per barrel of oil amounts to approximately $20 million a day, which is about 281 BTC at current prices—about 62% of all newly mined BTC daily. Miners generate around 450 BTC every 24 hours.

Exchange Rates 10.04.2026 analysis

Such a significant volume of potential Bitcoin purchases could substantially impact its market price. This precedent, if realized, would be the first for a country to directly use cryptocurrency for international payments on such a scale, which could stimulate interest from other countries facing limitations from traditional banking systems.

In light of these developments, mining companies may face both opportunities and challenges. Increased demand from Iran could lead to higher profits for miners; however, it could also potentially increase network difficulty, subsequently raising costs for electricity and equipment. Market activity has already noticeably intensified, and traders are likely to continue closely assessing the potential impact of these news items on Bitcoin's price dynamics.

Regarding the intraday strategy for the cryptocurrency market, I will continue to rely on significant pullbacks in Bitcoin and Ethereum, anticipating the continuation of the long-term bullish market.

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

Bitcoin

Exchange Rates 10.04.2026 analysis

Buy Scenario

Scenario #1: I will buy Bitcoin today upon reaching an entry point around $72,100 with a target for growth to $73,000. At $73,000, I plan to exit the buys and immediately sell on the rebound. Before buying on a breakout, ensure the 50-day moving average is below the current price and the Awesome indicator is above zero.

Scenario #2: I can buy Bitcoin at the lower boundary of $71,500 if there is no market reaction to its breakout back to $72,100 and $73,000.

Sell Scenario

Scenario #1: I will sell Bitcoin today upon reaching an entry point around $71,500 with a target for the drop to $70,600. At $70,600, I plan to exit the sales and immediately buy on the rebound. Before selling on a breakout, ensure the 50-day moving average is above the current price and the Awesome indicator is in the zone below zero.

Scenario #2: I can sell Bitcoin at the upper boundary of $72,100 if there is no market reaction to its breakout back to $71,500 and $70,600.

Ethereum

Exchange Rates 10.04.2026 analysis

Buy Scenario

Scenario #1: I will buy Ethereum today upon reaching an entry point around $2,193 with a target for growth to $2,211. At $2,211, I plan to exit the buys and immediately sell on the rebound. Before buying on a breakout, ensure the 50-day moving average is below the current price and the Awesome indicator is above zero.

Scenario #2: I can buy Ethereum at the lower boundary of $2,179 if there is no market reaction to its breakout back to $2,193 and $2,211.

Sell Scenario

Scenario #1: I will sell Ethereum today upon reaching an entry point around $2,179 with a target for the drop to $2,156. At $2,156, I plan to exit the sales and immediately buy on the rebound. Before selling on a breakout, ensure the 50-day moving average is above the current price and the Awesome indicator is in the zone below zero.

Scenario #2: I can sell Ethereum at the upper boundary of $2,193 if there is no market reaction to its breakout back to $2,179 and $2,156.

*El análisis de mercado publicado aquí tiene la finalidad de incrementar su conocimiento, más no darle instrucciones para realizar una operación.

Miroslaw Bawulski,
Analytical expert of InstaSpot
© 2007-2026
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