Bitcoin continues to trade within a narrow sideways channel, and a breakout will determine its next direction. Ethereum is showing the same pattern.

Meanwhile, while you're considering whether it's worth buying Bitcoin at current levels, the company Strategy has completed an IPO totaling 2.52 billion dollars and used the proceeds to purchase 21,021 BTC at 117,256 dollars per coin. This decision has certainly sparked intense discussion in the investment community, highlighting growing institutional interest in digital assets.

This large-scale investment reflects not only Strategy's belief in Bitcoin's long-term potential but also the company's willingness to take on significant risks, given the volatility of the cryptocurrency market. Acquiring BTC at such a high price suggests that Strategy expects substantial future growth in Bitcoin's value to justify the investment.

The impact of this deal on the cryptocurrency market is difficult to overestimate. On one hand, it may serve as a catalyst for further Bitcoin price growth, as it demonstrates the confidence of major players in its prospects. On the other hand, it raises concerns about Bitcoin's concentration in the hands of a limited number of large investors, which could make it more vulnerable to manipulation.

Regardless of long-term implications, Strategy's acquisition of a massive quantity of Bitcoin certainly draws attention to digital assets and stimulates further development of the crypto industry. This event once again underscores that Bitcoin is no longer just a speculative asset but is gradually becoming an important part of the global financial system.

As for intraday strategies in the crypto market, I will continue to rely on any major dips in Bitcoin and Ethereum as potential opportunities, expecting the medium-term bullish market trend—which remains intact—to continue.

Below are the strategies and trading conditions for the short term.

Bitcoin

Buy Scenario

Scenario #1: I plan to buy Bitcoin today at the entry point around $118,400 with a target of $119,100. Around $119,100, I intend to close long positions and sell on the pullback.

Before entering on a breakout, make sure the 50-day moving average is below the current price, and the Awesome Oscillator is above zero.

Scenario #2: Buying is also possible from the lower boundary at $117,800, provided there's no market reaction to its breakout. The aim would be a rebound toward $118,400 and $119,100.

Sell Scenario

Scenario #1: I plan to sell Bitcoin today at the entry point around $117,800, targeting a drop to $116,900. Around $116,900, I will exit shorts and buy on the rebound.

Before entering on a breakout, ensure the 50-day moving average is above the current price and the Awesome Oscillator is below zero.

Scenario #2: Selling is also possible from the upper boundary at $118,400, provided there's no market reaction to its breakout. The aim would be a move back toward $117,800 and $116,900.

Ethereum

Buy Scenario

Scenario #1: I plan to buy Ethereum today at the entry point around $3,833 with a target of $3,890. Around $3,890, I will exit long positions and sell on the pullback.

Before entering on a breakout, make sure the 50-day moving average is below the current price and the Awesome Oscillator is above zero.

Scenario #2: Buying is also possible from the lower boundary at $3,793, provided there's no market reaction to its breakout. The aim would be a rebound toward $3,833 and $3,890.

Sell Scenario

Scenario #1: I plan to sell Ethereum today at the entry point around $3,793, targeting a drop to $3,741. Around $3,741, I will exit shorts and buy on the rebound.

Before entering on a breakout, ensure the 50-day moving average is above the current price and the Awesome Oscillator is below zero.

Scenario #2: Selling is also possible from the upper boundary at $3,833, provided there's no market reaction to its breakout. The aim would be a move back toward $3,793 and $3,741.