empty
04.12.2024 10:16 AM
Trading Recommendations for the Cryptocurrency Market on December 4

Bitcoin and Ethereum continue to be bought at the slightest dips, signaling a bullish market.

Following Donald Trump's re-election last month and promises of more crypto-friendly regulation, cryptocurrency prices have skyrocketed. Investors, optimistic about positive policy changes, began pouring money into digital assets. Many attribute this to the president's promise to lower tax burdens for crypto investors and simplify the registration process for crypto exchanges. Meanwhile, major cryptocurrency platforms have started preparing to roll out new products to meet rising demand. Interest in cryptocurrencies has also grown as traditional currencies lose ground due to inflationary pressures.

This image is no longer relevant

Bitcoin leads the market, coming within a step of the $100,000 mark. This resurgence has revitalized the altcoin market, capitalizing on renewed investor interest.

Dogecoin has surged, fueled by its association with Elon Musk and plans to create a

Department of Government Efficiency, which Musk will reportedly lead. Solana (SOL) reached a new all-time high of $263 in November. Ethereum (ETH), which had been lagging behind Bitcoin this year, finally gained momentum over the weekend, hitting an eight-month high above $3,730.

Unexpectedly, some of the most significant recent gains have come from lesser-performing tokens. Many coins, stagnant for years—including some of the industry's most recognized names—have suddenly spiked. XRP soared by 45%, surpassing recent gains from Bitcoin and Dogecoin. Tron (TRX) hit a new all-time high yesterday, showing unexpected growth.

Among the top 100 cryptocurrencies by market capitalization, Hedera (HBAR) recorded the highest gain this week, rising 137% in seven days. IOTA closely followed with a 130% increase, and Algorand (ALGO) surged by 84% over the same period.

This indicates that the altcoin season is in full swing—don't miss this opportunity.

As for the intraday strategy on the cryptocurrency market, I plan to focus on significant dips in Bitcoin and Ethereum, targeting further bullish development in the medium term. The bull market remains intact.

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

Bitcoin

Buying Scenario

I plan to buy Bitcoin today upon reaching the entry point of around $96,800, targeting an increase of $97,700. Around $97,700, I will exit the buys and sell immediately on a rebound. Before buying on a breakout, it's best to ensure that the Stochastic indicator is near the lower boundary, around the 20 level.

Selling Scenario

I plan to sell Bitcoin today upon reaching the entry point of around $96,200, targeting a decline to $95,100. Around $95,100, I will exit the sales and buy immediately on a rebound. Before selling on a breakout, ensure the Stochastic indicator is near the upper boundary, around the 80 level.

Ethereum

Buying Scenario

I plan to buy Ethereum today at the entry point of around $3,694, targeting an increase of $3,764. Around $3,764, I will exit the buys and sell immediately on a rebound. Before buying on a breakout, ensure the Stochastic indicator is near the lower boundary, around the 20 level.

Selling Scenario

I plan to sell Ethereum today upon reaching the entry point of around $3,657, targeting a decline to $3,594. Around $3,594, I will exit the sale and buy immediately on a rebound. Before selling on a breakout, ensure the Stochastic indicator is near the upper boundary, around the 80 level.

Miroslaw Bawulski,
Analytical expert of InstaForex
© 2007-2025
Bitcoin
Summary
Strong buy
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

Trading Recommendations for the Cryptocurrency Market on April 25

Yesterday's unsuccessful attempt to stay above $94,000 demonstrates that there is still significant buying interest. Ethereum is also holding up quite well, although yesterday's correction during the European session likely

Miroslaw Bawulski 08:56 2025-04-25 UTC+2

Technical Analysis of Intraday Price Movement of Polkadot Cryptocurrency, Friday April 25, 2025.

With the condition of the Stochastic Oscillator indicator which is already above the Overbought level (80) even though it is currently still moving above the WMA (30 Shift 2) which

Arief Makmur 07:02 2025-04-25 UTC+2

Technical Analysis of Intraday Price Movement of Solana Cryptocurrency, Friday April 25, 2025.

Although currently the Solana cryptocurrency is moving in a strengthening condition which is indicated by its price movement moving above the WMA (30 Shift 2) but with the appearance

Arief Makmur 07:02 2025-04-25 UTC+2

BTC/USD Analysis – April 24th: Bitcoin Shows Signs of Revival

The wave pattern on the 4-hour chart for BTC/USD has become somewhat more complex. We observed a corrective downward structure that completed its formation around the $75,000 mark. Following this

Chin Zhao 10:15 2025-04-24 UTC+2

Trading Recommendations for the Cryptocurrency Market on April 24

Bitcoin failed to hold above the $94,000 level and corrected to the $92,500 area, where it appears more comfortable. Ethereum also pulled back to around $1,769 after briefly climbing above

Miroslaw Bawulski 08:58 2025-04-24 UTC+2

Bitcoin may resume its uptrend

Bitcoin posted a strong rally yesterday. After breaking through the $90,000 level, the leading cryptocurrency surged toward $94,000, where the advance temporarily stalled. Ether also saw impressive gains. After trading

Jakub Novak 12:59 2025-04-23 UTC+2

Trading Recommendations for the Cryptocurrency Market on April 23

Bitcoin has successfully pushed above $90,000, while Ethereum added more than 10% in just one day, rebounding to $1800. The main catalyst was Donald Trump's statement yesterday, clarifying that firing

Miroslaw Bawulski 09:03 2025-04-23 UTC+2

BTC/USD Analysis – April 22nd: The Moment of Truth

The wave structure on the 4-hour chart for BTC/USD is quite clear. After completing an upward trend consisting of five full waves, a downward segment began forming, which currently appears

Chin Zhao 11:49 2025-04-22 UTC+2

Trading Recommendations for the Cryptocurrency Market on April 22

Bitcoin Returns to the $88,000 Zone, but Ethereum Is Facing Challenges Yesterday's sell-off during the U.S. session, once again triggered by a decline in American stock indices, was offset

Miroslaw Bawulski 08:18 2025-04-22 UTC+2

Trading Recommendations for the Cryptocurrency Market on April 21

Bitcoin and Ethereum, having spent the entire weekend moving sideways within a range, surged sharply during today's Asian session. The rally was triggered by rumors that U.S. Federal Reserve Chair

Miroslaw Bawulski 09:03 2025-04-21 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.