empty
25.10.2024 06:56 AM
Trading Recommendations for the Cryptocurrency Market on October 25

Bitcoin and Ether made significant gains on Thursday, but is everything as positive as it seems at first glance?

Cryptocurrencies rose on Thursday, breaking the correction that began after Bitcoin failed to recover to $70,000 earlier in the week. The CoinDesk 20 index, which tracks the 20 largest cryptocurrencies by market capitalization, excluding stablecoins and exchange tokens, increased by over 2.7% in the past 24 hours. Uniswap and Bitcoin Cash led the way, each gaining more than 5%. Solana also posted significant gains, aiming directly for yearly highs.

This image is no longer relevant

However, at the time of writing, Bitcoin was trading at $68,100, while Ether retreated to the $2,490 area, which is a somewhat concerning signal.

If these trading instruments do not update their monthly highs in the coming days, buyers may face significant challenges as the risks of a larger correction will increase substantially. Additionally, market nervousness remains due to the U.S. presidential elections, where any poll favoring Kamala Harris could trigger a significant sell-off in the cryptocurrency market, making it difficult to expect a high probability of reaching new yearly highs.

As for the intraday strategy in the cryptocurrency market, I will focus on capitalizing on any significant dips in Bitcoin and Ether, aiming to maintain the bullish market trend in the medium term, which remains intact.

Details of the short-term trading strategy are outlined below.

This image is no longer relevant

Bitcoin

Buy Scenario:

I plan to buy Bitcoin today if it reaches the entry point around $68,270, with a target of rising to $69,305. At the $69,305 level, I will exit from buying and sell immediately on the rebound. Before buying on a breakout, it's best to ensure that the Stochastic indicator is near the lower boundary, around the 20 level.

Sell Scenario:

I plan to sell Bitcoin today if it reaches the entry point around $67,560, targeting a decline to $66,449. At the $66,449 level, I will exit from selling and buy immediately on the rebound. Before selling on a breakout, ensure the Stochastic indicator is near the upper boundary, around the 80 level.

This image is no longer relevant

Ethereum

Buy Scenario:

I plan to buy Ether today if it reaches the entry point around $2,513, with a target of rising to $2,569. At the $2,569 level, I will exit from buying and sell immediately on the rebound. Before buying on a breakout, ensure the Stochastic indicator is near the lower boundary, around the 20 level.

Sell Scenario:

I plan to sell Ether today if it reaches the entry point around $2,478, targeting a decline to $2,431. At the $2,431 level, I will exit from selling and buy immediately on the rebound. Before selling on a breakout, ensure the Stochastic indicator is near the upper boundary, around the 80 level.

Miroslaw Bawulski,
Analytical expert of InstaForex
© 2007-2025
Summary
Urgency
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

Bitcoin outpaces Amazon in terms of market cap

Bitcoin has reached a new all-time high near $122,000, surpassing Amazon in market capitalization. This event is undoubtedly a landmark moment in the history of cryptocurrencies and traditional finance

Jakub Novak 10:52 2025-07-14 UTC+2

Trading Recommendations for the Cryptocurrency Market on July 14

Bitcoin hit another all-time high above $122,000, continuing its winning streak. Ethereum has also strengthened and is trading above $3,000, but has not yet reached the all-time high. Bitcoin's rally

Miroslaw Bawulski 09:53 2025-07-14 UTC+2

Bitcoin Forecast for July 14, 2025

Bitcoin Bitcoin is showing extreme boldness amid the general market sentiment of risk aversion. However, if such sentiment continues, the upper limit of Bitcoin's growth also becomes visible — 125,190

Laurie Bailey 05:31 2025-07-14 UTC+2

Litecoin is attempting to test its nearest resistance level, Friday, July 11, 2025.

Litecoin, Friday, July 11, 2025. Litecoin managed to break through and close above its pivot level. Although there is potential for a correction, positive fundamental factors provide an opportunity

Arief Makmur 08:00 2025-07-11 UTC+2

Trading tips for crypto market on July 10 (North American session)

Bitcoin and Ethereum traded higher today during the European session, which indicates that yesterday's purchases were not a one-time event and that buyers are still active in the market. This

Miroslaw Bawulski 16:25 2025-07-10 UTC+2

Crypto market shows extremely low volatility

Bitcoin volatility has dropped to a historic low, while Bitcoin itself is trading within 2% of its all-time high. The lack of willingness to buy at current prices could become

Jakub Novak 13:46 2025-07-09 UTC+2

Crypto market resilient despite dollar volatility

BTC/USD is rising again today after yesterday's dip, overall maintaining its bullish momentum. Fundamentally, conditions continue to support BTC/USD growth in the medium term. The global economic and market landscape

Jurij Tolin 14:14 2025-07-08 UTC+2

Japan's digital bank by Metaplanet

While Bitcoin stubbornly refuses to decline, fueled by massive demand from ETF funds, the Japanese firm Metaplanet is planning to use its Bitcoin reserves to create the first digital bank

Jakub Novak 13:46 2025-07-08 UTC+2

Trading tips for crypto market on July 8

Both Bitcoin and Ethereum remain on a sound footing, poised to continue a bullish trend. As long as BTC continues trading above the $105,000 mark, the odds of further growth

Miroslaw Bawulski 12:16 2025-07-08 UTC+2

Clarity act on digital asset market gains support

Bitcoin and Ethereum have returned to the channels in which they spent most of last week. While Bitcoin has yet to break above the $109,000 mark, the prospects

Jakub Novak 11:00 2025-07-08 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.