Bitcoin and Ethereum buyers continue to take advantage of the good moments of the market decline and buy it out quickly, as demonstrated today during Asian trading. Importantly, Bitcoin is still attempting to gain a foothold above the $95,000 level, but with each unsuccessful attempt, the likelihood of a deeper correction increases. The situation is the same with Ethereum.

Meanwhile, as the crypto market battles for directional clarity, Tether minted another $2 billion just yesterday. This indicates a growing market and rising interest not only from speculators but also from institutional investors.

Company representative Riva Collins stated in an interview that while U.S. dollar-denominated stablecoins continue to dominate the market, there is room for competition. Collins noted that although dollar-backed stablecoins are leading, other assets can also compete to collateralize stablecoins.

Collins, who is actively working to ensure yield generation for users via the Pi protocol, said that in the future, stablecoins may be backed by fiat currencies and money market funds, commodities, and gold.

I will continue trading based on major dips in Bitcoin and Ethereum, expecting the medium-term bullish trend to remain intact.

Short-term strategies are outlined below:

Bitcoin

Buy Scenario

Scenario #1: I will buy Bitcoin today at an entry point of around $95,200, targeting a rise to $96,400. Around $96,400, I plan to exit the long position and immediately sell on the rebound.

Important: Before buying a breakout, ensure the 50-day moving average is below the current price and the Awesome Oscillator is in positive territory.

Scenario #2: Buy from the lower boundary at $94,600 if there is no market reaction to a breakout, expecting a bounce back toward $95,200 and $96,400.

Sell Scenario

Scenario #1: I will sell Bitcoin today at an entry point of around $94,600, targeting a drop to $93,600. Around $93,600, I will exit the short and immediately buy on the rebound.

Important: Before selling a breakout, ensure the 50-day moving average is above the current price and the Awesome Oscillator is in negative territory.

Scenario #2: Sell from the upper boundary at $95,200 if there is no market reaction to a breakout, aiming for a move to $94,600 and $93,600.

Ethereum

Scenario #1: I will buy Ethereum today at an entry point of around $1,815, targeting a rise to $1,852. Around $1,852, I will exit the long position and immediately sell on the rebound.

Important: Before buying a breakout, ensure the 50-day moving average is below the current price and the Awesome Oscillator is in positive territory.

Scenario #2: Buy from the lower boundary at $1,792 if there is no market reaction to a breakout, targeting a bounce back toward $1,815 and $1,852.

Sell Scenario

Scenario #1: I will sell Ethereum today at an entry point of around $1,792, targeting a drop to $1,762. Around $1,762, I will exit the short and immediately buy on the rebound.

Important: Before selling a breakout, ensure the 50-day moving average is above the current price and the Awesome Oscillator is in negative territory.

Scenario #2: Sell from the upper boundary at $1,815 if there is no market reaction to a breakout, targeting a move down to $1,792 and $1,762.