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 keeps the chances for further upward movement alive.

While Ethereum and Bitcoin are preparing to test their highs, an interesting statistic caught the eye. According to data, since October 2024, large Ethereum holders have increased their reserves by 9.31%. This is the most active accumulation since 2020. Such a strong signal from Ethereum whales indicates high confidence in the long-term potential of the second-largest cryptocurrency by market cap. This kind of aggressive position-building by major market players often precedes significant price movements. They likely expect further development of the Ethereum network, the introduction of new technologies, and the expansion of its use across various sectors, which in turn could drive increased demand and, consequently, asset price growth.

Interestingly, the influence of institutional investors in the cryptocurrency market continues to grow, and the accumulation of Ethereum by large holders is a clear sign of this.

Many market experts believe that such hidden buying may herald a powerful upward price movement, as we've seen in the past.

Regarding intraday strategies in the cryptocurrency market, I will continue to act based on any significant pullbacks in Bitcoin and Ethereum, anticipating the continued development of a bullish market in the medium term, which hasn't gone anywhere.

For short-term trading, the strategy and conditions are outlined below.

Bitcoin

Buy scenario

Scenario 1: I will buy Bitcoin today when the entry point reaches around $111,200, aiming for a rise to $111,800. I will exit the buy position near $111,800 and sell immediately on a bounce. Before buying on a breakout, ensure that the 50-day moving average is below the current price and that the Awesome Oscillator is in the positive zone.

Scenario 2: You can buy Bitcoin from the lower border at $110,700 if there's no market reaction to its breakout, targeting $111,200 and $111,800 levels.

Sell scenario

Scenario 1: I will sell Bitcoin today when the entry point reaches around $110,700, targeting a decline to $109,800. I will exit the sell position near $109,800 and buy immediately on a bounce. Before selling on a breakout, ensure that the 50-day moving average is above the current price and that the Awesome Oscillator is in the negative zone.

Scenario 2: You can sell Bitcoin from the upper border at $111,200 if there's no market reaction to its breakout, targeting $110,700 and $109,800 levels.

Ethereum

Buy scenario

Scenario 1: I will buy Ethereum today when the entry point reaches around $2,794, aiming for a rise to $2832. I will exit the buy position near $2,832 and sell immediately on a bounce. Before buying on a breakout, ensure that the 50-day moving average is below the current price and that the Awesome Oscillator is in the positive zone.

Scenario 2: You can buy Ethereum from the lower border at $2,796 if there's no market reaction to its breakout, targeting $2,794 and $2,832 levels.

Sell scenario

Scenario 1: I will sell Ethereum today when the entry point reaches around $2,769, targeting a decline to $2725. I will exit the sell position near $2,725 and buy immediately on a bounce. Before selling on a breakout, ensure that the 50-day moving average is above the current price and that the Awesome Oscillator is in the negative zone.

Scenario 2: You can sell Ethereum from the upper border at $2,794 if there's no market reaction to its breakout, targeting $2,769 and $2,725 levels.