empty
17.01.2025 09:31 AM
Trading Recommendations for the Cryptocurrency Market on January 17

Today, Bitcoin crossed the $102,000 mark, maintaining its upward momentum. Ethereum experienced less aggressive growth, failing to reach the previous day's high. However, it's worth noting that Ethereum outperformed Bitcoin earlier, gaining a couple of percentage points more. Overall, the market sentiment remains positive.

This image is no longer relevant

Altcoins like SOL and XRP also demonstrated strong growth, driven by speculation that they might be among the first altcoins included in the U.S. Strategic Crypto Reserve, should the Trump administration proceed with its multi-crypto reserve initiative. If implemented, this could signify a turning point in governmental recognition of digital assets. Such a move would not only bolster SOL and XRP but also pave the way for other altcoins to showcase their stability and liquidity.

Experts predict that increasing public and institutional interest in cryptocurrencies may catalyze the development of a more structured and regulated market, fostering trust among investors and users, which, in turn, could lead to further price growth. If the Trump administration's initiatives succeed, SOL and XRP could emerge as leaders among altcoins, driving competition and accelerating innovation in the crypto industry.

As for the intraday strategy on the cryptocurrency market, I plan to capitalize on any significant dips in Bitcoin and Ethereum, betting on the continuation of the bull market in the medium term, which has remained intact.

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

This image is no longer relevant

Bitcoin

Buy Scenarios

Scenario 1: Buy Bitcoin at $101,400, targeting a rise to $102,700. Exit purchases and sell on a rebound near $102,700. Ensure the 50-day moving average is below the current price and the Awesome Oscillator is in the positive zone before buying on a breakout.

Scenario 2: Buy Bitcoin from the lower boundary at $100,400 if there is no market reaction to its breakout, targeting $101,400 and $102,700.

Sell Scenarios

Scenario 1: Sell Bitcoin at $100,400, targeting a drop to $99,200. Exit sales and buy on a rebound near $99,200. Ensure the 50-day moving average is above the current price and that the Awesome Oscillator is in the negative zone before selling on a breakout.

Scenario 2: Sell Bitcoin from the upper boundary at $101,400 if there is no market reaction to its breakout, targeting $100,400 and $99,200.

Ethereum

This image is no longer relevant

Buy Scenarios

Scenario 1: Buy Ethereum at $3,377, targeting a rise to $3,432. Exit purchases and sell on a rebound near $3,432. Ensure the 50-day moving average is below the current price and the Awesome Oscillator is in the positive zone before buying on a breakout.

Scenario 2: Buy Ethereum from the lower boundary at $3,333 if there is no market reaction to its breakout, targeting $3,377 and $3,432.

Sell Scenarios

Scenario 1: Sell Ethereum at $3,333, targeting a drop to $3,276. Exit sales and buy on a rebound near $3,276. Ensure the 50-day moving average is above the current price and that the Awesome Oscillator is in the negative zone before selling on a breakout.

Scenario 2: Sell Ethereum from the upper boundary at $3,377 if there is no market reaction to its breakout, targeting $3,333 and $3,276.

Miroslaw Bawulski,
Analytical expert of InstaForex
© 2007-2025
Bitcoin
Summary
Strong buy
Urgency
1 day
Analytic
Maxim Magdalinin
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Another Consolidation Before a Drop

Bitcoin and Ethereum continue their attempts to rise, but each time they face obstacles, suggesting that this is more of a consolidation phase within an ongoing bearish correction rather than

Jakub Novak 12:25 2025-03-14 UTC+2

Trading Recommendations for the Cryptocurrency Market on March 14

Bitcoin and Ethereum are currently consolidating within channels, creating conditions that may lead to further declines. While many experts agree that the lows have already been reached and an unstoppable

Miroslaw Bawulski 08:20 2025-03-14 UTC+2

Technical Analysis of Intraday Price Movement of Uniswap Cryptocurrency, Friday March 14, 2025.

From what is seen on the 4-hour chart of the Uniswap cryptocurrency, although currently still under pressure, is indicated by its price movement moving below the EMA (21) which

Arief Makmur 07:03 2025-03-14 UTC+2

Technical Analysis of Intraday Price Movement of Doge Cryptocurrency, Friday March 14, 2025.

With the appearance of Convergence between the price movement of the Doge cryptocurrency and the Stochastic Oscillator indicator, it gives an indication that in the near future Doge

Arief Makmur 07:03 2025-03-14 UTC+2

Bitcoin and Ethereum Buyers Struggle to Gain Control

Bitcoin continues its recovery after the major sell-off at the beginning of the week. However, yesterday's failure to break the weekly high casts doubt on the short-term bullish outlook

Jakub Novak 10:22 2025-03-13 UTC+2

Trading Recommendations for the Cryptocurrency Market on March 13

Bitcoin and Ethereum are locked within new channels. On the positive side, the intense selling pressure observed at the beginning of the week has subsided. However, there are concerns about

Miroslaw Bawulski 08:05 2025-03-13 UTC+2

Bitcoin Prepares for a Comeback

As Bitcoin and Ether bounce back strongly from their yearly lows, this indicates that the bull market is not finished yet. In this context, Senator Cynthia Lummis has reintroduced

Jakub Novak 23:59 2025-03-12 UTC+2

Bitcoin Depends on Sentiment in the U.S. Stock Market

The cryptocurrency market has seen a slight recovery after another sell-off earlier this week. However, the situation remains tense, and selling pressure could return at any moment

Jakub Novak 10:24 2025-03-12 UTC+2

Trading Recommendations for the Cryptocurrency Market on March 12

Bitcoin and Ethereum have experienced a slight recovery after another sell-off, reaching new yearly lows. The panic seen in both the U.S. stock market and the cryptocurrency market has paused

Miroslaw Bawulski 08:03 2025-03-12 UTC+2

Trading Recommendations for the Cryptocurrency Market on March 11

Bitcoin and Ethereum have both reached new annual lows, mirroring a decline in the U.S. stock market, which has now fallen for the fourth consecutive week. Yesterday, the crypto market

Miroslaw Bawulski 09:03 2025-03-11 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.