Bitcoin and Ethereum continue their struggle for growth, though not without challenges. At the time of writing, Bitcoin rebounded from the $84,000 level and is trading at $88,000. Ethereum also saw a dip during the Asian session to around $2,100, but the decline was quickly bought up, leading to a recovery toward $2,189.

Despite the high risks of another wave of decline in the crypto market, the Bitcoin network continues to grow, even amid increased market volatility. The number of new wallets is increasing across all fronts, signaling sustained interest in cryptocurrency despite bearish sentiment. Investors may see the current conditions as an opportunity to accumulate assets at lower prices, anticipating a long-term recovery in Bitcoin.

An increase in the number of wallets may also indicate a growing user base, drawing new participants into the ecosystem. These newcomers may be attracted by decentralization prospects, inflation hedging, or simply the desire to diversify their portfolios. However, network growth alone does not guarantee protection against further declines. Cryptocurrency market volatility remains high, and external factors such as regulatory shifts or macroeconomic events can significantly impact BTC price movements.

Ethereum, on the other hand, shows strong bearish sentiment, increasing the chances of a rebound followed by another wave of decline. The only major support for ETH comes from its upcoming network upgrade. However, bearish sentiment does not necessarily indicate a trend reversal. The market may stay in an uptrend for an extended period, undergoing corrections—especially if fundamental factors continue to pressure ETH's price. While Ethereum's network upgrade is a crucial event, its success is not guaranteed. Delays or technical setbacks could negatively impact investor perception of ETH.

Intraday Strategy Outlook

For now, I will continue focusing on major pullbacks in Bitcoin and Ethereum, with an expectation of further bullish momentum in the medium term. The overall uptrend has not disappeared.

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

Bitcoin Trading Plan

Buy Scenarios

Scenario #1: Buy Bitcoin upon reaching $88,600, targeting a rise to $91,700. At $91,700, I will exit buy positions and sell on a pullback. Before buying, confirm that the 50-day moving average is below the current price and that the Awesome Oscillator is in the positive zone.

Scenario #2: Buy Bitcoin from the lower boundary of $87,400, provided there is no market reaction confirming a breakout below this level. Expect a reversal toward $88,600 and $91,700.

Sell Scenarios

Scenario #1: Sell Bitcoin upon reaching $87,400, aiming for a decline to $84,900. At $84,900, I will exit short positions and buy on a rebound. Before selling, confirm that the 50-day moving average is above the current price and that the Awesome Oscillator is in the negative zone.

Scenario #2: Sell Bitcoin from the upper boundary of $88,600, provided there is no market reaction confirming a breakout above this level. Expect a decline toward $87,400 and $84,900.

Ethereum Trading Plan

Buy Scenarios

Scenario #1: Buy Ethereum upon reaching $2,189, targeting a rise to $2,236. At $2,236, I will exit buy positions and sell on a pullback. Before buying, confirm that the 50-day moving average is below the current price and that the Awesome Oscillator is in the positive zone.

Scenario #2: Buy Ethereum from the lower boundary of $2,148, provided there is no market reaction confirming a breakout below this level. Expect a reversal toward $2,198 and $2,246.

Sell Scenarios

Scenario #1: Sell Ethereum upon reaching $2,148, aiming for a decline to $2,087. At $2,087, I will exit short positions and buy on a rebound. Before selling, confirm that the 50-day moving average is above the current price and that the Awesome Oscillator is in the negative zone.

Scenario #2: Sell Ethereum from the upper boundary of $2,189, provided there is no market reaction confirming a breakout above this level. Expect a decline toward $2,148 and $2,087.