empty
19.11.2024 09:43 AM
Trading Recommendations for the Cryptocurrency Market on November 19

Bitcoin and Ethereum continue to consolidate, trading near monthly highs, hinting at the potential continuation of the bull market—if not today, then certainly soon.

Meanwhile, Donald Trump's appointments of crypto enthusiasts and advocates for the new industry to key positions have bolstered investor sentiment, preventing Bitcoin from experiencing a deeper correction. The introduction of options trading on spot Bitcoin exchange-traded funds (ETFs) is a long-awaited tool that, according to market participants, will attract more institutional interest in cryptocurrencies. This instrument could become available today, further driving interest and demand for Bitcoin.

This image is no longer relevant

Currently, the market has eleven U.S. spot Bitcoin ETFs, but only one of them—iShares Bitcoin Trust (IBIT) by BlackRock—is listed on Nasdaq and, therefore, eligible for options trading.

Options are a form of derivatives that allow investors to buy or sell an underlying asset—in this case, IBIT—at a predetermined price within a specific timeframe. These instruments attract traders by enabling leveraged directional bets and hedging against risks and positions.

As a reminder, the SEC approved the listing of options on IBIT in September this year. It also approved rule changes filed by the New York Stock Exchange (NYSE) and Cboe Global Markets, which list other spot Bitcoin ETFs.

The emergence of options is a reason to revisit Bitcoin and other cryptocurrency assets, which have been "stagnating."

As for the intraday strategy in the cryptocurrency market, I plan to continue leveraging significant pullbacks in Bitcoin and Ethereum to anticipate a continuation of the intact mid-term bull market.

As for short-term trading, the strategy and conditions are described below.

This image is no longer relevant

Bitcoin

Buy Scenario

I plan to buy Bitcoin today upon reaching the entry point at $92,180, targeting a rise to $94,000. Around $94,000, I will exit purchases and sell immediately on a rebound. Important! Before buying on a breakout, ensure the Stochastic indicator is near the lower boundary around the 20 level.

Sell Scenario

I plan to sell Bitcoin today upon reaching the entry point at $91,220, targeting a decline to $88,870. Around $88,870, I will exit sales and buy immediately on a rebound. Important! Before selling on a breakout, ensure the Stochastic indicator is near the upper boundary around the 80 level.

This image is no longer relevant

Ethereum

Buy Scenario

I plan to buy Ethereum today upon reaching the entry point at $3,151, targeting a rise to $3,247. Around $3,247, I will exit purchases and sell immediately on a rebound. Important! Before buying on a breakout, ensure the Stochastic indicator is near the lower boundary around the 20 level.

Sell Scenario

I plan to sell Ethereum today upon reaching the entry point at $3,113, targeting a decline to $3,025. Around $3,025, I will exit sales and buy immediately on a rebound. Important! Before selling on a breakout, ensure the Stochastic indicator is near the upper boundary around the 80 level.

Miroslaw Bawulski,
Analytical expert of InstaForex
© 2007-2025
Bitcoin
Summary
Strong 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

Diverging Opinions on Cryptocurrency Regulation

While Bitcoin and Ethereum are contemplating their next moves, U.S. lawmakers remain divided on the regulation of stablecoins and cryptocurrencies, highlighting ongoing disagreements on the matter. The situation has been

Jakub Novak 14:35 2025-02-12 UTC+2

Trading Recommendations for the Cryptocurrency Market on February 12

Bitcoin and Ethereum are currently facing challenges, as both assets approach critical support levels that will test the resilience of investors and traders. For Bitcoin, this support level

Miroslaw Bawulski 10:40 2025-02-12 UTC+2

BTC/USD Analysis – February 12th: Bitcoin Gathers Strength Ahead of a New Rally

The wave analysis of the 4-hour BTC/USD chart is straightforward. Following a prolonged and complex a-b-c-d-e corrective structure (from March 14 to August 5), a new impulsive wave began forming

Chin Zhao 10:16 2025-02-12 UTC+2

Bitcoin and Ethereum perk up

Following the same well-trodden path, Bitcoin and Ethereum have returned to growth after a fairly long pause and a period of low volatility observed over the past weekend. Since

Jakub Novak 09:22 2025-02-11 UTC+2

Wave analysis of BTC/USD on February 11. Bitcoin trapped in range-bound market

The wave structure of the 4-hour chart for BTC/USD appears completely clear. After a long and complex a-b-c-d-e corrective structure, which formed between March 14 and August

Chin Zhao 07:35 2025-02-11 UTC+2

Crypto market to deal with another challenge

Mixed US labor market data at the end of last week initially favored Bitcoin and other digital assets, but the momentum fizzled out over the weekend. As a result

Jakub Novak 09:44 2025-02-10 UTC+2

Trading Recommendations for the Cryptocurrency Market on February 10th

Over the weekend, Bitcoin and Ethereum remained within their average ranges, failing to show any significant volatility. This followed an initial attempt at growth driven by strong U.S. labor market

Miroslaw Bawulski 09:30 2025-02-10 UTC+2

BTC/USD Analysis – February 10th

The wave structure on the 4-hour chart appears clear. Following a prolonged and complex corrective structure (a-b-c-d-e) that lasted from March 14 to August 5, a new impulse wave began

Chin Zhao 07:40 2025-02-10 UTC+2

Trading Recommendations for the Cryptocurrency Market on February 7

Bitcoin and Ethereum have been resilient against the recent pressures. Whenever the market tries to make an upward move, traders face significant selling activity, which keeps both assets trading within

Miroslaw Bawulski 08:29 2025-02-07 UTC+2

Technical Analysis of Intraday Price Movement of Doge Cryptocurrency, Friday February 07, 2025.

If we look at the 4-hour chart of the Doge cryptocurrency, it appears that the Failing Wedge and Bullish 123 patterns have appeared, so based on these two clues

Arief Makmur 07:16 2025-02-07 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.