The legend in the InstaSpot team!
Legend! You think that's bombastic rhetoric? But how should we call a man, who became the first Asian to win the junior world chess championship at 18 and who became the first Indian Grandmaster at 19? That was the start of a hard path to the World Champion title for Viswanathan Anand, the man who became a part of history of chess forever. Now one more legend in the InstaSpot team!
Borussia is one of the most titled football clubs in Germany, which has repeatedly proved to fans: the spirit of competition and leadership will certainly lead to success. Trade in the same way that sports professionals play the game: confidently and actively. Keep a "pass" from Borussia FC and be in the lead with InstaSpot!
Bitcoin and Ethereum demonstrated minimal movement over the past weekend, highlighting the lack of market activity during this time. This trend reinforces their increasing correlation with stock markets and major U.S. players.
In related news, the CEO of Tether has proclaimed that the USDT stablecoin is the strongest ally of U.S. dollar hegemony. It is important to note that Tether is collaborating with U.S. lawmakers to develop a regulatory framework for stablecoins—an issue frequently discussed within both the crypto community and U.S. Congress.
USDT plays a vital role in maintaining liquidity in crypto markets, enabling traders to easily switch between cryptocurrencies and fiat currencies, especially the U.S. dollar. This accessibility and convenience promote broader adoption of the dollar in the digital economy.
Regulating stablecoins, as proposed by Tether, could enhance transparency and reliability, strengthening trust among users and institutional investors. Clear regulatory guidelines would help alleviate concerns about USDT's backing and its compliance with financial regulations. Furthermore, USDT's position as the dominant stablecoin de facto reinforces the U.S. dollar's role in the global financial system.
Previously, U.S. "crypto czar" David Sacks mentioned in an interview that stablecoins have the potential to solidify the U.S. dollar's dominance on an international scale. Many U.S. policymakers view stablecoins as key to maintaining the dollar's global supremacy.
Going forward, I will continue to rely on major pullbacks in Bitcoin and Ethereum as opportunities to position for the continuation of the intact mid-term bull market.
For short-term trading, the strategy and trading conditions are outlined below.
Scenario #1: I will buy Bitcoin today if the entry point reaches $96,500, targeting a rise to $97,400. Around $97,400, I plan to exit purchases and immediately sell on a pullback. Before buying on a breakout, ensuring that the 50-day moving average is below the current price and the Awesome Oscillator is in positive territory is essential.
Scenario #2: Bitcoin purchases can also be considered from the lower boundary of $96,000, provided there is no market reaction to its breakout in the opposite direction. The targets are $96,400 and $97,400.
Scenario #1: I will sell Bitcoin today if the entry point reaches $96,000, targeting a decline to $95,100. Around $95,100, I plan to exit sales and immediately buy on a pullback. Before selling on a breakout, ensuring that the 50-day moving average is above the current price and the Awesome Oscillator is in negative territory is essential.
Scenario #2: Bitcoin sales can also be considered from the upper boundary of $96,500, provided there is no market reaction to its breakout in the opposite direction. The targets are $96,000 and $95,100.
Scenario #1: I will buy Ethereum today if the entry point reaches $2,689, targeting a rise to $2,739. Around $2,739, I plan to exit purchases and immediately sell on a pullback. Before buying on a breakout, ensuring that the 50-day moving average is below the current price and the Awesome Oscillator is in positive territory is essential.
Scenario #2: Ethereum purchases can also be considered from the lower boundary of $2,659, provided there is no market reaction to its breakout in the opposite direction. The targets are $2,689 and $2,739.
Scenario #1: I will sell Ethereum today if the entry point reaches $2,659, targeting a decline to $2,605. Around $2,605, I plan to exit sales and immediately buy on a pullback. Before selling on a breakout, ensuring that the 50-day moving average is above the current price and the Awesome Oscillator is in negative territory is essential.
Scenario #2: Ethereum sales can also be considered from the upper boundary of $2,689, provided there is no market reaction to its breakout in the opposite direction. The targets are $2,659 and $2,605.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
InstaSpot analytical reviews will make you fully aware of market trends! Being an InstaSpot client, you are provided with a large number of free services for efficient trading.
