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17.04.202608:57 Forex Analysis & Reviews: Trading Recommendations for the Cryptocurrency Market on April 17

Relevancia 02:00 2026-04-18 UTC--4

Challenges with the growth of Bitcoin and Ethereum persist. Yesterday, Bitcoin failed to consolidate above $75,000, suggesting limited demand at that level. Ethereum also rose but then pulled back to around $2,327.

Exchange Rates 17.04.2026 analysis

Traders are showing visible caution about purchases at current levels, even as large players have been quite active during the recent American trading session. Their actions yesterday clearly indicate significant selling pressure, restraining further growth.

It is important to note that if Bitcoin breaks through the $76,000 mark, there is a high probability that many pending stop-loss orders will be triggered. This cascading effect could prompt a rapid price increase, likely in the range of $80,000–$81,000. It is in this zone that new selling pressure is expected to arise, and sellers will likely seize the initiative once again.

Ethereum is also showing signs of strength; however, further growth above the $2,400 level faces certain difficulties. Overcoming this significant level will be a key catalyst for stronger, more sustained upward movement in this asset. Until then, as long as this barrier remains unbroken, the trend will likely remain influenced by sellers.

As for the intraday strategy in the cryptocurrency market, I will continue to focus on any significant pullbacks in Bitcoin and Ethereum, anticipating the continuation of the long-term bullish market, which remains intact.

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

Bitcoin

Exchange Rates 17.04.2026 analysis

Buying Scenario

Scenario #1: I plan to buy Bitcoin today when it reaches an entry point around $75,000, targeting a move to $75,800. At around $75,800, I will exit my purchases and sell immediately on the bounce. 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: Bitcoin can be bought from the lower boundary of $74,500 if there is no market reaction to its breakout in the opposite direction to levels $75,000 and $75,800.

Selling Scenario

Scenario #1: I plan to sell Bitcoin today upon reaching an entry point around $74,500, targeting a decline to $73,600. At around $73,600, I will exit my sales and buy immediately on the bounce. 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: Bitcoin can be sold from the upper boundary of $74,500 if there is no market reaction to its breakout in the opposite direction to levels $74,500 and $73,600.

Ethereum

Exchange Rates 17.04.2026 analysis

Buying Scenario

Scenario #1: I plan to buy Ethereum today when it reaches an entry point around $2,327, targeting a move to $2,345. At around $2,345, I will exit my purchases and sell immediately on the bounce. 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: Ethereum can be bought from the lower boundary of $2,313 if there is no market reaction to its breakout in the opposite direction to levels $2,327 and $2,345.

Selling Scenario

Scenario #1: I plan to sell Ethereum today upon reaching an entry point around $2,313, targeting a decline to $2,297. At around $2,297, I will exit my sales and buy immediately on the bounce. 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: Ethereum can be sold from the upper boundary of $2,327 if there is no market reaction to its breakout in the opposite direction to levels $2,313 and $2,297.

*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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