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Yesterday, Bitcoin fell to around $65,000, then slightly recovered, and is currently trading at $66,600. Ethereum remains below $2,000, indicating sustained selling pressure.
Against the backdrop of a broader market decline in cryptocurrencies, many financial giants have begun revising their forecasts. For example, yesterday Standard Chartered lowered its short-term forecast for cryptocurrencies, warning that prices could fall further in the coming months before recovering later this year.
The company expects BTC to drop to $50,000 or slightly lower, while ETH may fall to $1,400. The target level for Bitcoin at the end of the year is now set at $100,000, significantly lower than the previous forecast of $150,000. Last December, Standard Chartered also revised its Bitcoin forecast from $300,000 and for Ethereum from $7,500 to $4,000. The company now expects Ethereum to be at $1,400.
Regarding altcoins, forecasts for the end of 2026 suggest that Solana will reach $135, XRP will be around $2.80, BNB will grow to $1,050, and Avalanche will reach $18.
It is worth noting that many analysts and experts expect Bitcoin to decline to around $50,000 in the near future. While this figure is crucial, it's important to understand that it is much closer than the previously anticipated $100,000 for Bitcoin, which we nearly approached at the beginning of this year.
As for the intraday strategy in the cryptocurrency market, I will continue to base my actions on major dips in Bitcoin and Ethereum, anticipating the continuation of the long-term bullish market, which has not disappeared.
Here are the short-term trading strategies and conditions outlined below.
Scenario #1: I plan to buy Bitcoin today when the entry point reaches around $66,600, targeting a move to $67,300. At around $67,300, I plan to exit the purchases and sell immediately on the bounce. Before buying on a breakout, make sure 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 $66,000 if there is no market reaction to its breakout back towards $66,600 and $67,300.
Scenario #1: I plan to sell Bitcoin today when the entry point reaches around $66,000, targeting a drop to $65,500. At around $65,500, I plan to exit the sales and buy immediately on the bounce. Before selling on a breakout, make sure that 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 $66,600 if there is no market reaction to its breakout back towards $66,000 and $65,500.
Scenario #1: I plan to buy Ethereum today when the entry point reaches around $1,943, targeting a move to $1,972. At around $1,972, I plan to exit the purchases and sell immediately on the bounce. Before buying on a breakout, make sure 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 $1,922 if there is no market reaction to its breakout back towards $1,943 and $1,972.
Scenario #1: I plan to sell Ethereum today when the entry point reaches around $1,922, targeting a drop to $1,903. At around $1,903, I plan to exit the sales and buy immediately on the bounce. Before selling on a breakout, make sure that 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 $1,943 if there is no market reaction to its breakout back towards $1,922 and $1,903.
¡Los informes analíticos de InstaForex lo mantendrá bien informado de las tendencias del mercado! Al ser un cliente de InstaForex, se le proporciona una gran cantidad de servicios gratuitos para una operación eficiente.
