Bitcoin continues to decline and has already tested the $79,200 mark. Ethereum has also dropped significantly, trading at $2,276.

All of this is occurring against the backdrop of escalating military conflict between the US and Iran, as well as capital outflows from spot ETFs. Yesterday, the US launched a series of strikes on Iranian military facilities near the ports of Bandar Abbas and Qeshm in response to attacks on American destroyers in the Strait of Hormuz, which has increased pressure on digital assets.

Capital outflows from spot ETFs also play a significant role in the current decline. Traders and investors, fearing further price declines, have begun withdrawing funds, which, in turn, is exerting additional pressure on the prices of Bitcoin and Ethereum.

In the near term, the downward trend is likely to continue. Geopolitical uncertainty is unlikely to resolve overnight, and the outflow of funds from ETFs may continue to exert pressure. However, it is worth noting that the cryptocurrency market has its own internal dynamics. Stabilization of the geopolitical situation and the emergence of new positive catalysts in the form of positive cash flows will be required to halt the bear market.

As for the intraday strategy in the cryptocurrency market, I will continue to act on any significant pullbacks in Bitcoin and Ethereum, anticipating the continued development of a long-term bullish market, which has not disappeared.

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

Bitcoin

Buy Scenario

Scenario #1: I plan to buy Bitcoin today upon reaching the entry point around $79,800, targeting a move to $80,500. At around $80,500, I intend to exit my buy positions and immediately sell on the rebound. Before buying on a breakout, ensure the 50-day moving average is below the current price and the Awesome indicator is above zero.

Scenario #2: Buying Bitcoin can be considered at the lower boundary of $79,400 if there is no market reaction to its breakout back towards $79,800 and $80,500.

Sell Scenario

Scenario #1: I plan to sell Bitcoin today upon reaching the entry point around $79,400, targeting a decline to $78,500. At around $78,500, I will exit my sell positions and immediately buy on the rebound. Before selling on a breakout, ensure the 50-day moving average is above the current price and the Awesome indicator is below zero.

Scenario #2: Selling Bitcoin can be considered at the upper boundary of $79,800 if there is no market reaction to its breakout back towards $79,400 and $78,500.

Ethereum

Buy Scenario

Scenario #1: I plan to buy Ethereum today upon reaching the entry point around $2,283, targeting a move to $2,306. At around $2,306, I intend to exit my buy positions and immediately sell on the rebound. Before buying on a breakout, ensure the 50-day moving average is below the current price and the Awesome indicator is above zero.

Scenario #2: Buying Ethereum can be considered at the lower boundary of $2,267 if there is no market reaction to its breakout back towards $2,283 and $2,306.

Sell Scenario

Scenario #1: I plan to sell Ethereum today upon reaching the entry point around $2,267, targeting a decline to $2,241. At around $2,241, I will exit my sell positions and immediately buy on the rebound. Before selling on a breakout, ensure the 50-day moving average is above the current price and the Awesome indicator is below zero.

Scenario #2: Selling Ethereum can be considered at the upper boundary of $2,283 if there is no market reaction to its breakout back towards $2,267 and $2,241.