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Bitcoin was unable to hold $74,000, quickly retreating today to around $70,000. Ethereum also decreased after rising to $2,200.
News from the media has emerged that Andreessen Horowitz (a16z), a venture capital giant known for its ambitious approach to investing in cutting-edge technologies, is once again demonstrating its commitment to the development of the crypto industry. The company plans to raise a colossal amount of $2 billion for its new cryptocurrency fund. This move emphasizes not only a16z's growing interest in decentralized technologies but also their confidence in the long-term potential of the blockchain ecosystem.
a16z crypto, the fund's specialized division, has established itself as a key player in the Web3 arena. Their portfolio includes outstanding projects covering a wide range of innovations: from fundamental infrastructure underlying a decentralized internet to user applications that promise to rethink interaction with the digital world. The $2 billion in attraction signals a16z's desire not just to follow trends but to actively shape the future. These funds will likely support the next generation of blockchain innovations, whether revolutionary crypto-financial services, new protocols that enhance scalability and security, or decentralized platforms that transform data and content ownership paradigms.
All this is obviously good for the cryptocurrency market, as the more new and major players there are, and the more planned investments, the greater the chances for returns and updates of historical highs for the leading trading instruments in the market.
As for the intraday strategy in the cryptocurrency market, I will continue to act, also relying on major pullbacks in Bitcoin and Ethereum, aiming to sustain the bullish market in the long term, which has not disappeared.
Regarding short-term trading, the strategy and conditions are described below.
Scenario No. 1: I plan to buy Bitcoin today when the entry point reaches around $70,700, with a target price of $71,700. Near $71,700, I will exit my buys and sell immediately 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 No. 2: Buying Bitcoin is feasible from the lower boundary of $70,000 with no market reaction to its breakout in the opposite direction towards the levels of $70,700 and $71,700.
Scenario No. 1: I plan to sell Bitcoin today when the entry point reaches around $70,000, with a target drop to $69,000. Near $69,000, I will exit my sales and buy immediately 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 No. 2: Selling Bitcoin can be done from the upper boundary of $70,700 with no market reaction to its breakout in the opposite direction towards the levels of $70,000 and $69,000.
Scenario No. 1: I plan to buy Ethereum today when the entry point reaches around $2,075, with a target price of $2,107. Near $2,107, I will exit my buys and sell immediately 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 No. 2: Buying Ethereum is feasible from the lower boundary of $2,052 with no market reaction to its breakout in the opposite direction towards the levels of $2,075 and $2,107.
Scenario No. 1: I plan to sell Ethereum today when the entry point reaches around $2,052, with a target drop to $2,019. Near $2,019, I will exit my sales and buy immediately 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 No. 2: Selling Ethereum can be done from the upper boundary of $2,075 with no market reaction to its breakout in the opposite direction towards the levels of $2,052 and $2,019.
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