Bitcoin and Ethereum managed to recover this morning, similar to yesterday, but further upside could face difficulties. Recently, New York trading sessions have typically seen selling pressure, so be cautious with new long positions.

Another negative factor for Ethereum buyers is the withdrawal queue from staking. Currently, 910,000 ETH — worth around $3.9 billion — are queued for withdrawal, marking an all-time high for withdrawal requests. Many fear that a portion of these ETH could be sold on the market, potentially triggering a sharper and more prolonged decline in the short term.

However, a staking withdrawal queue does not necessarily signal an impending disaster. Several factors could soften potential selling pressure. First, a significant share of ETH may be withdrawn not for immediate sale, but to be moved into other DeFi protocols offering better returns or new opportunities. In the rapidly evolving DeFi landscape, users constantly seek ways to optimize their investments and maximize yield. Second, even if some ETH does reach the market, the impact may be limited. Large holders committed to Ethereum's long-term growth may take advantage of price dips to expand their positions. Additionally, institutional investors, who are showing increasing interest in crypto assets, could view price weakness as an attractive entry point.

As for intraday crypto market strategy, I plan to continue trading based on major Bitcoin and Ethereum pullbacks, counting on the medium-term bullish trend, which remains intact.

Short-term trading strategy

Bitcoin

Buying scenarios

Scenario #1: Buy BTC at an entry point around $115,800 with a target of $116,700. Exit long positions near $116,700 and sell immediately on a pullback. Before entering during a breakout, make sure the 50-day moving average is below the current price and the Awesome Oscillator is in positive territory.

Scenario #2: Buy BTC from the lower border of $115,200 if there is no reaction to a downside breakout, targeting $115,800 and $116,700.

Selling scenarios

Scenario #1: Sell BTC at an entry point around $115,200 with a target of $114,200. Exit short positions near $114,200 and buy immediately on a pullback. Before entering during a breakout, make sure the 50-day moving average is above the current price and the Awesome Oscillator is in negative territory.

Scenario #2: Sell BTC from the upper border of $115,800 if there is no reaction to an upside breakout, targeting $115,200 and $114,200.

Ethereum

Buying scenarios

Scenario #1: Buy ETH at an entry point around $4,328 with a target of $4,379. Exit long positions near $4,379 and sell immediately on a pullback. Before entering during a breakout, make sure the 50-day moving average is below the current price and the Awesome Oscillator is in positive territory.

Scenario #2: Buy ETH from the lower border of $4,287 if there is no reaction to a downside breakout, targeting $4,328 and $4,379.

Selling scenarios

Scenario #1: Sell ETH at an entry point around $4,287 with a target of $4,229. Exit short positions near $4,229 and buy immediately on a pullback. Before entering during a breakout, please check that the 50-day moving average is above the current price and the Awesome Oscillator is in negative territory.

Scenario #2: Sell ETH from the upper border of $4,328 if there is no reaction to an upside breakout, targeting $4,287 and $4,229.