Bitcoin rebounded from its lows yesterday, testing significant resistance around $88,000; however, today, selling pressure has returned. Meanwhile, Ethereum remains trading below $3,000, preparing for a move toward $2,700.

According to the latest data from Glassnode, "whales," or "sharks" as they are also known, have purchased over 54,000 BTC valued at approximately $4.66 billion during the recent downturn. This report indicates the highest accumulation rates since 2012.

Such aggressive buying of Bitcoin by large players suggests that, despite current volatility and overall market uncertainty, they maintain confidence in the cryptocurrency's long-term potential. The actions of major holders are often seen as signals of a potential trend reversal and the beginning of a new upward movement. However, it should be noted that the behavior of large players is not always a reliable indicator. The cryptocurrency market remains highly speculative, and even substantial purchases do not guarantee an immediate price recovery, especially as many experts and significant market participants increasingly discuss the impending "crypto winter."

In any case, the activity of whales is a significant development that deserves attention and further analysis. It may indicate the formation of a new bottom and preparation for the next stage of cryptocurrency market development.

Regarding the intraday strategy for the cryptocurrency market, I will continue to rely on any significant pullbacks in Bitcoin and Ethereum in anticipation of the continued development of a bullish market in the medium term, which remains intact.

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

Bitcoin

Buy Scenario

Scenario No. 1: I plan to buy Bitcoin today at an entry point around $87,200, targeting a move to $88,200. Near $88,200, I will exit purchases and sell immediately on a rebound. Before buying on a breakout, ensure the 50-day moving average is below the current price and the Awesome Oscillator is in the positive zone.

Scenario No. 2: Buying Bitcoin can also occur from the lower boundary at $86,500 if there is no market reaction to its breakout back to levels $87,200 and $88,200.

Sell Scenario

Scenario No. 1: I plan to sell Bitcoin today upon reaching an entry point around $86,500, targeting a fall to $85,400. Near $85,400, I will exit sales and buy immediately on a rebound. Before selling on a breakout, it is essential to ensure that the 50-day moving average is above the current price and the Awesome Oscillator is in the negative zone.

Scenario No. 2: Selling Bitcoin can also occur from the upper boundary at $87,200 if there is no market reaction to its breakout back to levels $86,400 and $85,400.

Ethereum

Buy Scenario

Scenario No. 1: I plan to buy Ethereum today at an entry point around $2,949, targeting a move to $2,989. Near $2,989, I will exit purchases and sell immediately on a rebound. Before buying on a breakout, ensure the 50-day moving average is below the current price and the Awesome Oscillator is in the positive zone.

Scenario No. 2: Buying Ethereum can also occur from the lower boundary at $2,925 if there is no market reaction to its breakout back to levels $2,949 and $2,989.

Sell Scenario

Scenario No. 1: I plan to sell Ethereum today upon reaching an entry point around $2,925, targeting a fall to $2,890. Near $2,890, I will exit sales and buy immediately on a rebound. Before selling on a breakout, it is essential to ensure that the 50-day moving average is above the current price, and the Awesome Oscillator is in the negative zone.

Scenario No. 2: Selling Ethereum can also occur from the upper boundary at $2,949 if there is no market reaction to its breakout back to levels $2,925 and $2,890.