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17.01.202509:31 Forex Analysis & Reviews: Trading Recommendations for the Cryptocurrency Market on January 17

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Today, Bitcoin crossed the $102,000 mark, maintaining its upward momentum. Ethereum experienced less aggressive growth, failing to reach the previous day's high. However, it's worth noting that Ethereum outperformed Bitcoin earlier, gaining a couple of percentage points more. Overall, the market sentiment remains positive.

Exchange Rates 17.01.2025 analysis

Altcoins like SOL and XRP also demonstrated strong growth, driven by speculation that they might be among the first altcoins included in the U.S. Strategic Crypto Reserve, should the Trump administration proceed with its multi-crypto reserve initiative. If implemented, this could signify a turning point in governmental recognition of digital assets. Such a move would not only bolster SOL and XRP but also pave the way for other altcoins to showcase their stability and liquidity.

Experts predict that increasing public and institutional interest in cryptocurrencies may catalyze the development of a more structured and regulated market, fostering trust among investors and users, which, in turn, could lead to further price growth. If the Trump administration's initiatives succeed, SOL and XRP could emerge as leaders among altcoins, driving competition and accelerating innovation in the crypto industry.

As for the intraday strategy on the cryptocurrency market, I plan to capitalize on any significant dips in Bitcoin and Ethereum, betting on the continuation of the bull market in the medium term, which has remained intact.

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

Exchange Rates 17.01.2025 analysis

Bitcoin

Buy Scenarios

Scenario 1: Buy Bitcoin at $101,400, targeting a rise to $102,700. Exit purchases and sell on a rebound near $102,700. Ensure the 50-day moving average is below the current price and the Awesome Oscillator is in the positive zone before buying on a breakout.

Scenario 2: Buy Bitcoin from the lower boundary at $100,400 if there is no market reaction to its breakout, targeting $101,400 and $102,700.

Sell Scenarios

Scenario 1: Sell Bitcoin at $100,400, targeting a drop to $99,200. Exit sales and buy on a rebound near $99,200. Ensure the 50-day moving average is above the current price and that the Awesome Oscillator is in the negative zone before selling on a breakout.

Scenario 2: Sell Bitcoin from the upper boundary at $101,400 if there is no market reaction to its breakout, targeting $100,400 and $99,200.

Ethereum

Exchange Rates 17.01.2025 analysis

Buy Scenarios

Scenario 1: Buy Ethereum at $3,377, targeting a rise to $3,432. Exit purchases and sell on a rebound near $3,432. Ensure the 50-day moving average is below the current price and the Awesome Oscillator is in the positive zone before buying on a breakout.

Scenario 2: Buy Ethereum from the lower boundary at $3,333 if there is no market reaction to its breakout, targeting $3,377 and $3,432.

Sell Scenarios

Scenario 1: Sell Ethereum at $3,333, targeting a drop to $3,276. Exit sales and buy on a rebound near $3,276. Ensure the 50-day moving average is above the current price and that the Awesome Oscillator is in the negative zone before selling on a breakout.

Scenario 2: Sell Ethereum from the upper boundary at $3,377 if there is no market reaction to its breakout, targeting $3,333 and $3,276.

Miroslaw Bawulski
Analytical expert of InstaForex
© 2007-2025

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