The bullish momentum for Bitcoin and Ethereum is slowing down, but this doesn't mean that the rally is over or that it's time to give up. As long as Bitcoin stays above the $100,000 mark, there is a strong chance that the bullish trend will continue.
Currently, there are no major catalysts propelling the market upward, but crypto enthusiasts and prominent investors still encourage others to invest in the cryptocurrency space. Robert Kiyosaki, the well-known author of "Rich Dad Poor Dad," recently shared his views on President Donald Trump's official token (TRUMP) and Bitcoin. Kiyosaki commented on the launch of TRUMP Coin, which was introduced by Trump on January 17, just before his inauguration. Two days later, on January 19, First Lady Melania Trump launched her own meme token, MELANIA. Initially, both tokens saw significant price increases, but their appeal quickly faded, resulting in subsequent declines in market performance.
Kiyosaki stated that TRUMP Coin is not something to believe in, emphasizing his preference for time-tested investments over speculative ventures. In the same post, he reiterated his long-standing position: "I stay the course and continue buying gold, silver, and Bitcoin."
Kiyosaki has long advocated for Bitcoin as a hedge against inflation and a reliable store of value. He often refers to it as "people's money." In his post, he also criticized Exchange-Traded Funds (ETFs), sharing his personal investment philosophy: "As a personal rule, I don't invest in any ETFs. I'm old, and I prefer 'real money.'" Recently, Kiyosaki predicted that Bitcoin could reach $250,000 by 2025. He has expressed a strong commitment to accumulating more cryptocurrency, emphasizing his optimistic view of its future growth.
For my intraday trading strategies in the cryptocurrency market, I will continue to focus on major dips in Bitcoin and Ethereum prices, anticipating that the medium-term bullish trend remains intact.
As for short-term trading, the strategy and conditions are described below.
Bitcoin
Buy Scenario
Scenario #1: I will buy Bitcoin today at the entry point near $103,050, with a target level of $104,700. Around $104,700, I plan to exit the buy position and immediately sell on a pullback. Before entering a breakout, I need to ensure that the 50-day moving average is below the current price and that the Awesome Oscillator is in the zone above zero.
Scenario #2: Buying Bitcoin is also possible from the lower boundary at $101,800 if there is no market reaction to break through this level in the opposite direction. The targets are $103,050 and $104,700.
Sell Scenario
Scenario #1: I will sell Bitcoin today at the entry point near $101,800 with a target of $100,100. Around $100,100, I plan to exit the sell position and immediately buy on a pullback. Before entering a breakout, I need to ensure that the 50-day moving average is above the current price and the Awesome Oscillator is in the zone below zero.
Scenario #2: Selling Bitcoin is also possible from the upper boundary at $103,050 if there is no market reaction to break through this level in the opposite direction. The targets are $101,800 and $100,100.
Ethereum
Buy Scenario
Scenario #1: I will buy Ethereum today at the entry point near $3,241 with a target level of $3,295. Around $3,295, I plan to exit the buy position and immediately sell on a pullback. Before entering a breakout, I need to ensure that the 50-day moving average is below the current price and that the Awesome Oscillator is in the zone above zero.
Scenario #2: Buying Ethereum is also possible from the lower boundary at $3,199 if there is no market reaction to break through this level in the opposite direction. The targets are $3,241 and $3,295.
Sell Scenario
Scenario #1: I will sell Ethereum today at the entry point near $3,199 with a target of $3,139. Around $3,139, I plan to exit the sell position and immediately buy on a pullback. Before entering a breakout, I need to ensure that the 50-day moving average is above the current price and the Awesome Oscillator is in the zone below zero.
Scenario #2: Selling Ethereum is also possible from the upper boundary at $3,241 if there is no market reaction to break through this level in the opposite direction. The targets are $3,199 and $3,139.
