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Bitcoin continued trading within a sideways channel, dropping to the $104,000 area yesterday before recovering to a more acceptable level of $104,500. Ethereum also showed no clear directional movement.
Despite rising geopolitical tensions and ongoing macroeconomic uncertainty, Bitcoin has confidently held above the psychologically critical $100,000 mark for over five weeks, defying broader market stagnation and reinforcing its role as a macro hedge.
Even after the U.S. Federal Reserve left interest rates unchanged—delaying potential policy easing—Bitcoin buyers' wait-and-see approach and the sideways movement suggest a bullish market outlook. The observed resilience comes amid sluggish performance in traditional assets like stocks and bonds, which continue to face inflation pressure and high interest rates. Investors seeking shelter from volatility are increasingly turning to Bitcoin, viewing it as digital gold—a decentralized asset not subject to manipulation by central banks or governments. Bitcoin supporters argue that its fundamentals have never been stronger. Growing institutional adoption, limited supply, and increasing awareness of its value as a store of wealth support long-term optimism.
In my intraday strategy for the cryptocurrency market, I will continue to make decisions based on significant drawdowns in Bitcoin and Ethereum, anticipating that the bull market will continue to develop in the medium term, as it remains intact.
As for short-term trading, the strategy and conditions are described below.
Scenario 1: Buy Bitcoin today upon reaching the $105,000 entry point with a target of $106,000. Exit the long position around $106,000 and open a short position on the rebound. Before buying on a breakout, make sure the 50-day moving average is below the current price and the Awesome Oscillator is in positive territory.
Scenario 2: Buy Bitcoin from the lower boundary of $104,100 if there is no strong market reaction to its breakout, with upside targets at $105,000 and $106,000.
Scenario 1: Sell Bitcoin today upon reaching the $104,100 entry point with a target of $103,000. Exit short positions around $103,000 and open long positions on the rebound. Before selling on a breakout, make sure the 50-day moving average is above the current price and the Awesome Oscillator is in negative territory.
Scenario 2: Sell Bitcoin from the upper boundary of $105,000 if there is no strong market reaction to its breakout, with downside targets at $104,100 and $103,000.
Scenario 1: Buy Ethereum today upon reaching the $2534 entry point with a target of $2576. Exit long positions around $2576 and open short positions on the rebound. Before buying on a breakout, make sure the 50-day moving average is below the current price and the Awesome Oscillator is in positive territory.
Scenario 2: Buy Ethereum from the lower boundary of $2501 if there is no strong market reaction to its breakout, with upside targets at $2534 and $2576.
Scenario 1: Sell Ethereum today upon reaching the $2501 entry point with a target of $2461. Exit short positions around $2461 and open long positions on the rebound. Before selling on a breakout, make sure the 50-day moving average is above the current price and the Awesome Oscillator is in negative territory.
Scenario 2: Sell Ethereum from the upper boundary of $2534 if there is no strong market reaction to its breakout, with downside targets at $2501 and $2461.
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