Bitcoin and Ethereum responded quickly yesterday to the easing of tensions in the Middle East, leading to active growth. Bitcoin reached $71,700, and Ethereum returned to $2,196, after which a decent correction ensued.

Meanwhile, despite everything happening, major players continue to make aggressive purchases. Amid external turmoil and market volatility, where fluctuations have become a familiar companion, large players—commonly referred to as whales in the crypto community—are demonstrating remarkable resolve. In recent days, their activity has increased, often serving as a precursor to significant market movements.

Data from Santiment indicates that whales holding substantial volumes of cryptocurrency have been actively increasing their positions in Ethereum over the last two days. This trend suggests that large ETH holders see potential in the current situation and are betting on the growth of the second-largest cryptocurrency by market capitalization. Such accumulation of purchases by large players is often interpreted as a signal for a possible upcoming rally.

Simultaneously, CryptoQuant is recording a strong influx of whales into Bitcoin. This fact serves as another reason to prepare for increased volatility. Historically, sharp increases in purchases by large investors before significant market events have led to sharp price spikes, both upward and downward. Therefore, while some are monitoring external factors, others, possessing substantial financial capabilities, are preparing to seize potential opportunities by forming new positions.

In light of these events, it is not surprising that the Fear & Greed Index in the cryptocurrency market has once again shown a decline, returning to the "extreme fear" mark. This indicator, reflecting the psychological state of market participants, is sensitive to external shocks and periods of heightened anxiety. The predominance of fear over greed suggests that investors as a whole are concerned about the future, which negatively impacts price dynamics and trading volume.

Regarding the intraday strategy in the cryptocurrency market, I will continue to base my actions on any significant pullbacks in Bitcoin and Ethereum with the expectation of continued development in the bull market in the long term, which has not disappeared.

As for short-term trading, the strategy and conditions are described below.

Bitcoin

Buy Scenario

Scenario 1: I plan to buy Bitcoin today when it reaches an entry point around $70,600, targeting a move to $71,200. At $71,200, I will exit my purchases and sell immediately on the rebound. Before buying on a breakout, ensure the 50-day moving average is below the current price and the Awesome indicator is above zero.

Scenario 2: Bitcoin can also be bought from the lower boundary of $70,200 if there's no market reaction to its breakout back towards levels $70,600 and $71,200.

Sell Scenario

Scenario 1: I plan to sell Bitcoin today upon reaching an entry point around $70,200, targeting a decline to $69,500. At around $69,500, I will exit my sales and buy immediately on the rebound. Before selling on a breakout, ensure the 50-day moving average is above the current price and the Awesome indicator is in the zone below zero.

Scenario 2: Selling Bitcoin can also be done from the upper boundary of $70,600 if there's no market reaction to its breakout back towards levels $70,200 and $69,500.

Ethereum

Buy Scenario

Scenario 1: I plan to buy Ethereum today when it reaches an entry point around $2,152, targeting a move to $2,182. At around $2,182, I will exit my purchases and sell immediately on the rebound. Before buying on a breakout, ensure the 50-day moving average is below the current price and the Awesome indicator is above zero.

Scenario 2: Ethereum can also be purchased from the lower boundary of $2,132 if there's no market reaction to its breakout back towards levels $2,152 and $2,182.

Sell Scenario

Scenario 1: I plan to sell Ethereum today upon reaching an entry point around $2,132, targeting a decline to $2,104. At around $2,104, I will exit my sales and buy immediately on the rebound. Before selling on a breakout, ensure the 50-day moving average is above the current price and the Awesome indicator is in the zone below zero.

Scenario 2: Ethereum can be sold from the upper boundary of $2,152 if there's no market reaction to its breakout back towards levels $2,132 and $2,104.