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23.04.202509:03 Forex Analysis & Reviews: Trading Recommendations for the Cryptocurrency Market on April 23

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Bitcoin has successfully pushed above $90,000, while Ethereum added more than 10% in just one day, rebounding to $1800.

The main catalyst was Donald Trump's statement yesterday, clarifying that firing Jerome Powell from the Federal Reserve Chair position is not his goal. Trump also made concessions regarding trade tariffs on China, easing market tensions and enabling U.S. stock indices to post substantial gains—gains that, in turn, pulled the cryptocurrency market upward, given the strong correlation between the two in recent months.

Exchange Rates 23.04.2025 analysis

Buoyed by this sentiment, investors regained confidence in the stability of economic policy, which immediately translated into growth across digital assets. Many analysts now suggest this could be the beginning of a new rally fueled by macroeconomic factors and increasing institutional interest.

Ethereum, the second-largest cryptocurrency by market cap, also showed impressive performance, climbing back to $1800. Experts attribute this to the upcoming Ethereum network upgrade, which is expected to improve scalability and efficiency. Anticipation of these fundamental improvements is attracting new investors and supporting current holders.

Despite the growing optimism, experts advise caution. The cryptocurrency market remains highly volatile, and sudden policy or investor sentiment shifts could trigger corrections. Portfolio diversification and avoiding FOMO (fear of missing out) remain key.

In the coming weeks, the crypto market will closely monitor Trump's further statements and developments in U.S.-China trade negotiations. A successful resolution to trade tensions could boost crypto, while setbacks could reignite uncertainty.

For the intraday crypto strategy, I'll continue focusing on buying any major dips in Bitcoin and Ethereum, betting on the mid-term bull market continuing.

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

Exchange Rates 23.04.2025 analysis

Bitcoin

Buy Scenario

Scenario #1: If the entry point at $94,200 is reached, I plan to buy Bitcoin today, targeting a rise to $96,200. I will close my buy position at $96,200 and immediately open a short position on the pullback. Before initiating the breakout buy, ensure the 50-day moving average is below the current price and the Awesome Oscillator is in the positive zone.

Scenario #2: Alternatively, I will buy Bitcoin from the lower boundary at $92,800, provided there is no market reaction to a breakout below it, aiming for a rebound to $94,200 and $96,200.

Sell Scenario

Scenario #1: If the entry point at $92,800 is reached, I will sell Bitcoin today, targeting a drop to $90,800. I will close the sell position at $90,800 and immediately buy on the bounce. Before the breakout sell, confirm that the 50-day moving average is above the current price and the Awesome Oscillator is in the negative zone.

Scenario #2: If the breakout does not follow through, I can also sell Bitcoin from the upper boundary at $94,200, targeting levels of $92,800 and $90,900.

Exchange Rates 23.04.2025 analysis

Ethereum

Buy Scenario

Scenario #1: If the entry point at $1822 is reached, I plan to buy Ethereum today, targeting a move to $1886. I will close the buy position at $1886 and sell on the bounce. Before initiating the breakout buy, ensure the 50-day moving average is below the current price and the Awesome Oscillator is in the positive zone.

Scenario #2: Alternatively, I will buy Ethereum from the lower boundary at $1774, provided there's no market reaction to a breakout below it, targeting $1822 and $1886.

Sell Scenario

Scenario #1: I will sell Ethereum today if the entry point at $1774 is reached, aiming for a drop to $1726. I'll close the short at $1726 and immediately buy on the bounce. Before selling, I will confirm that the 50-day moving average is above the current price and the Awesome Oscillator is in the negative zone.

Scenario #2: If the breakout fails, I can also sell from the upper boundary at $1822, targeting levels of $1774 and $1726.

Desarrollado por un Miroslaw Bawulski
experto de análisis de InstaForex
© 2007-2025

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