empty
06.03.2025 01:50 PM
Trading tips for crypto market on March 6 (North American session)

Bitcoin managed to correct after the Asian session's rally, allowing for a short position at $91,200. While a major decline didn't materialize, the price did manage to update the $90,500 level, which is already a decent result.

This image is no longer relevant

The obvious drop in volatility and the lack of new sellers directly relate to Trump's speech tomorrow at the cryptocurrency conference, where the US president is expected to shed light on the details of the US reserve crypto fund.

The speech is expected to cover a strategy for stabilizing the crypto market and strengthening the dollar's position in the digital economy. Experts predict Bitcoin's growth if Trump's statements are positive but caution against excessive euphoria, reminding investors of the unpredictability of political decisions.

At the same time, Federal Reserve officials are avoiding comments, emphasizing the need for a detailed analysis of the potential impact of a crypto reserve fund on monetary policy. Experts disagree on whether such a move is justified, with concerns that it could increase government control over decentralized assets.

Ethereum gets stuck in trading range

Ethereum is not showing much momentum, continuing to trade within a range, which is positive for its long-term bullish prospects. However, the market lacks fresh catalysts, which everyone is eagerly awaiting tomorrow. Until then, the market is unlikely to see significant moves.

Medium- and short-term trading strategy

For intraday trading, I will continue to focus on major pullbacks in Bitcoin and Ethereum, betting on the bullish trend to continue in the medium term.

Bitcoin

This image is no longer relevant

Buy scenario

Scenario #1: I will buy Bitcoin today if it reaches the entry point at $91,700, targeting a rise to $93,400. At $93,400, I will exit long positions and go short on a rebound. Before buying on a breakout, I need to confirm that the 50-day moving average is below the current price, and the Awesome Oscillator is in the positive zone.

Scenario #2: Bitcoin can also be bought from the lower border at $90,800 if there is no reaction to its breakdown, aiming for $91,700 and $93,400.

Sell scenario

This image is no longer relevant

Scenario #1: I will sell Bitcoin today if it reaches the entry point at $90,800, targeting a decline to $89,000. At $89,000, I will exit short positions and buy on a dip. Before selling on a breakout, I need to check that the 50-day moving average is above the current price and the Awesome Oscillator is in the negative zone.

Scenario #2: Bitcoin can also be sold from the upper border at $91,700 if there is no reaction to its breakout, aiming for $90,800 and $89,000.

Ethereum

This image is no longer relevant

Buy scenario

Scenario #1: I will buy Ethereum today if the price reaches the entry point at $2,307, targeting a rise to $2,356. At $2,356, I will exit long positions and open short ones on a rebound. Before buying on a breakout, I need to confirm that the 50-day moving average is below the current price, and the Awesome Oscillator is in the positive zone.

Scenario #2: Ethereum can also be bought from the lower border at $2,274 if there is no reaction to its breakdown, aiming for $2,307 and $2,356.

Sell scenario

Scenario #1: I will sell Ethereum today if it reaches the entry point at $2,274, targeting a decline to $2,231. At $2,231, I will exit short positions and buy on a dip. Before selling on a breakout, I need to verify that the 50-day moving average is above the current price, and the Awesome Oscillator is in the negative zone.

Scenario #2: Ethereum can also be sold from the upper border at $2,307 if there is no reaction to its breakout, aiming for $2,274 and $2,231.

Miroslaw Bawulski,
Analytical expert of InstaForex
© 2007-2025
Bitcoin
Summary
Buy
Urgency
1 day
Analytic
Maxim Magdalinin
Start trade
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Another Consolidation Before a Drop

Bitcoin and Ethereum continue their attempts to rise, but each time they face obstacles, suggesting that this is more of a consolidation phase within an ongoing bearish correction rather than

Jakub Novak 12:25 2025-03-14 UTC+2

Trading Recommendations for the Cryptocurrency Market on March 14

Bitcoin and Ethereum are currently consolidating within channels, creating conditions that may lead to further declines. While many experts agree that the lows have already been reached and an unstoppable

Miroslaw Bawulski 08:20 2025-03-14 UTC+2

Technical Analysis of Intraday Price Movement of Uniswap Cryptocurrency, Friday March 14, 2025.

From what is seen on the 4-hour chart of the Uniswap cryptocurrency, although currently still under pressure, is indicated by its price movement moving below the EMA (21) which

Arief Makmur 07:03 2025-03-14 UTC+2

Technical Analysis of Intraday Price Movement of Doge Cryptocurrency, Friday March 14, 2025.

With the appearance of Convergence between the price movement of the Doge cryptocurrency and the Stochastic Oscillator indicator, it gives an indication that in the near future Doge

Arief Makmur 07:03 2025-03-14 UTC+2

Bitcoin and Ethereum Buyers Struggle to Gain Control

Bitcoin continues its recovery after the major sell-off at the beginning of the week. However, yesterday's failure to break the weekly high casts doubt on the short-term bullish outlook

Jakub Novak 10:22 2025-03-13 UTC+2

Trading Recommendations for the Cryptocurrency Market on March 13

Bitcoin and Ethereum are locked within new channels. On the positive side, the intense selling pressure observed at the beginning of the week has subsided. However, there are concerns about

Miroslaw Bawulski 08:05 2025-03-13 UTC+2

Bitcoin Prepares for a Comeback

As Bitcoin and Ether bounce back strongly from their yearly lows, this indicates that the bull market is not finished yet. In this context, Senator Cynthia Lummis has reintroduced

Jakub Novak 23:59 2025-03-12 UTC+2

Bitcoin Depends on Sentiment in the U.S. Stock Market

The cryptocurrency market has seen a slight recovery after another sell-off earlier this week. However, the situation remains tense, and selling pressure could return at any moment

Jakub Novak 10:24 2025-03-12 UTC+2

Trading Recommendations for the Cryptocurrency Market on March 12

Bitcoin and Ethereum have experienced a slight recovery after another sell-off, reaching new yearly lows. The panic seen in both the U.S. stock market and the cryptocurrency market has paused

Miroslaw Bawulski 08:03 2025-03-12 UTC+2

Trading Recommendations for the Cryptocurrency Market on March 11

Bitcoin and Ethereum have both reached new annual lows, mirroring a decline in the U.S. stock market, which has now fallen for the fourth consecutive week. Yesterday, the crypto market

Miroslaw Bawulski 09:03 2025-03-11 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.