Bitcoin reached another major level at $82,200 after several unsuccessful attempts to hold above $89,000 yesterday. Ethereum even dropped to $2,250, stopping just one step away from the monthly low of $2,185. All of this further confirms that the market is still undergoing a correction, making it extremely difficult for speculative crypto holders and futures traders. Most likely, this "difficulty" will persist in the near term, as the crypto market's decline is far from over—if anything, this is only the beginning.

Market sentiment remains weak, with many investors choosing to hold off on making any decisions. Technical indicators suggest that the downward correction is likely to continue. Most cryptocurrencies have fallen below significant support levels, and there are no signs of a solid bottom forming, indicating that seller pressure is still strong and further price declines may occur.

The pressure on the cryptocurrency market is also related to the ongoing issues observed in the US stock market, which updated its local low once again yesterday.

In the coming weeks, key factors that will impact market dynamics include macroeconomic data and geopolitical developments. Any negative news could increase panic and lead to another wave of sell-offs.

In terms of my intraday strategy in the cryptocurrency market, I will continue to take advantage of any significant dips in Bitcoin and Ethereum, as I expect the medium-term bull market to remain intact.

For short-term trading, I have outlined my strategy and conditions below.

Bitcoin

Buy Scenario

Scenario #1: I plan to buy Bitcoin today if it reaches an entry point of around $86,300, targeting a rise to $88,600. Around $88,600, I will exit the long positions and sell immediately on a pullback. Before buying on a breakout, I must ensure that the 50-day moving average is below the current price and that the Awesome Oscillator is in the positive zone.

Scenario #2: Bitcoin can also be bought from the lower boundary at $85,100 if there is no market reaction to a breakout, targeting $86,300 and $88,600.

Sell Scenario

Scenario #1: I plan to sell Bitcoin today if it reaches an entry point of around $85,100, targeting a drop to $82,900. Around $82,900, I will exit the short positions and buy immediately on a rebound. Before selling on a breakout, I must ensure that the 50-day moving average is above the current price and that the Awesome Oscillator is in the negative zone.

Scenario #2: Bitcoin can also be sold from the upper boundary at $86,300 if there is no market reaction to a breakout, targeting $85,100 and $82,900.

Ethereum

Buy Scenario

Scenario #1: I plan to buy Ethereum today if it reaches an entry point of around $2,355, targeting a rise to $2,424. Around $2,424, I will exit the long positions and sell immediately on a pullback. Before buying on a breakout, I must ensure that the 50-day moving average is below the current price and that the Awesome Oscillator is in the positive zone.

Scenario #2: Ethereum can also be bought from the lower boundary at $2,309 if there is no market reaction to a breakout, targeting $2,355 and $2,424.

Sell Scenario

Scenario #1: I plan to sell Ethereum today if it reaches an entry point around $2,309, targeting a drop to $2,245. Around $2,245, I will exit the short positions and buy immediately on a rebound. Before selling on a breakout, I must ensure that the 50-day moving average is above the current price and that the Awesome Oscillator is in the negative zone.

Scenario #2: Ethereum can also be sold from the upper boundary at $2,355 if there is no market reaction to a breakout, targeting $2,309 and $2,245.