empty
09.04.2025 09:22 AM
Trading Recommendations for the Cryptocurrency Market on April 9

Bitcoin and Ethereum collapsed by the end of Tuesday, continuing the heavy sell-off during today's Asian session. Another sharp decline in the U.S. stock market dragged other risk assets down, including the cryptocurrency market.

This image is no longer relevant

In February 2025, Bitcoin fell below the average aggregate break-even price of short-term holders — and yesterday, it was Ethereum's turn. According to CryptoQuant, ETH's drop below the average break-even level of traders signals the beginning of a key stage in the crypto market. This level represents the average purchase price at which most traders bought ETH. A break below it often triggers a cascade of liquidations and margin calls.

Analysts call this a "market cleansing," implying the removal of overly optimistic and overleveraged players from the market. It's a painful but necessary phase of recovery that creates the conditions for more sustainable growth. History shows that while such events are unpleasant in the short term, they often precede periods of recovery and growth in the medium term.

This image is no longer relevant

However, as long as the sell-off in the U.S. stock market doesn't stop, talking about buying in the crypto market remains inappropriate — the correlation between them has become too strong lately.

As for intraday strategies in the crypto market, I will continue to rely on any major pullbacks in Bitcoin and Ethereum, expecting the medium-term bull market to remain intact.

Below are the short-term strategies and conditions:

This image is no longer relevant

Bitcoin

Buy Scenario

Scenario #1: Buy Bitcoin today if the price reaches the entry point around $77,350, targeting a rise to $79,400. I plan to exit longs near $79,400 and sell immediately on a bounce. Before buying on a breakout, ensure the 50-day moving average is below the current price and the Awesome Oscillator is in positive territory.

Scenario #2: Buy Bitcoin from the lower boundary at $76,100 if there's no market reaction to a breakout, targeting reversals to $77,350 and $79,400.

Sell Scenario

Scenario #1: Sell Bitcoin today if the price reaches the entry point around $76,150, targeting a decline to $74,600. I plan to exit shorts near $74,600 and buy immediately on a bounce. Before selling on a breakout, ensure the 50-day moving average is above the current price and the Awesome Oscillator is in negative territory.

Scenario #2: Sell Bitcoin from the upper boundary at $77,400 if there's no market reaction to a breakout, targeting reversals to $76,100 and $74,600.

This image is no longer relevant

Ethereum

Buy Scenario

Scenario #1: Buy Ethereum today if the price reaches the entry point around $1,488, targeting a rise to $1,542. I plan to exit longs near $1,542 and sell immediately on a bounce. Before buying on a breakout, ensure the 50-day moving average is below the current price and the Awesome Oscillator is in positive territory.

Scenario #2: Buy Ethereum from the lower boundary at $1,446 if there's no market reaction to a breakout, targeting reversals to $1,488 and $1,542.

Sell Scenario

Scenario #1: Sell Ethereum today if the price reaches the entry point around $1,446, targeting a decline to $1,387. I plan to exit shorts near $1,387 and buy immediately on a bounce. Before selling on a breakout, ensure the 50-day moving average is above the current price and the Awesome Oscillator is in negative territory.

Scenario #2: Sell Ethereum from the upper boundary at $1,488 if there's no market reaction to a breakout, targeting reversals to $1,446 and $1,387.

Miroslaw Bawulski,
Analytical expert of InstaForex
© 2007-2025
Bitcoin
Summary
Sell
Urgency
1 day
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

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

Elon Musk's America party advocates for Bitcoin and digital assets

The recently formed political party, America Party led by Elon Musk, will support Bitcoin. This was announced by the Tesla CEO himself on social media. "Fiat is hopeless

Jakub Novak 15:31 2025-07-07 UTC+2

Bitcoin will test its Support.1 after successfully breaking through and closing below the Uptrendline intraday chart, Friday, July 4, 2024.

Bitcoin – Friday, July 4, 2025. With an inflow into the Bitcoin ETF around USD$ 50 billion, it shows strong interest from investors, thus strengthening the legitimacy of this cryptocurrency

Arief Makmur 07:58 2025-07-04 UTC+2

Ripple has the potential to correct and weaken down to the Support level of 2.1924, Friday, July 4, 2025.

Ripple – Friday, July 4, 2025 Friendly regulatory pressure and the case with the SEC that seems to be stopped and open interest in the derivatives market that has jumped

Arief Makmur 07:58 2025-07-04 UTC+2

Trading Recommendations for the Cryptocurrency Market on July 4

Bitcoin has encountered significant resistance around $110,000, and it is unlikely to break through this level easily in the near term. Ethereum is also facing difficulties moving above the $2,600

Miroslaw Bawulski 07:27 2025-07-04 UTC+2

Trading Recommendations for the Cryptocurrency Market on July 3

Bitcoin and Ether have resumed growth, reaching new weekly highs amid favorable macroeconomic conditions. Over the past 24 hours, Bitcoin has risen by 2.5%, trading above $109,000. Ethereum also advanced

Miroslaw Bawulski 08:47 2025-07-03 UTC+2

Trading Recommendations for the Cryptocurrency Market on July 2

Bitcoin continued its correction and during today's Asian trading session reached a new level of $105,000. Ethereum also dropped significantly but was quickly bought back, stabilizing around $2,425. Meanwhile

Miroslaw Bawulski 08:33 2025-07-02 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.