FX.co ★ Cryptocurrency Market Trading Recommendations for May 15

Bitcoin and Ethereum had strengthened their positions yesterday, but today all gains have dissipated. Trading in BTC is around $80,500, while Ethereum has returned to the level of $2,240.

Meanwhile, Robert Kiyosaki, a well-known author and philanthropist, has again stated that now is the time to invest in real money: gold, silver, BTC, and ETH. There are several reasons for this.

Geopolitical tensions in the Middle East, particularly the conflict in Iran, are significantly impacting global energy markets. The volatility of oil prices, driven by supply disruptions and concerns over further escalation, inevitably leads to increased costs for businesses worldwide. Companies facing rising fuel and raw material costs are forced to pass these costs on to consumers by raising prices for their goods and services. This process is one of the main driving of inflation, progressively devaluing the purchasing power of savings. Thus, according to Kiyosaki, the dollar is not the best investment.

However, the crisis in Iran is just one of the factors contributing to the overall price rise. The national debt will compel the US government to print even more fake money. "Please protect yourself, your family, and your money. Invest in Gold, Silver, BTC, and ETH. These are real money that will increase their purchasing power as fake money continues to steal wealth from those who do nothing," Kiyosaki wrote.

As for the intraday strategy for the cryptocurrency market, I will continue to focus on significant pullbacks in Bitcoin and Ethereum, anticipating the continuation of the long-term bullish market, which has not gone away.

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

Bitcoin

Buying Scenario

#1: I plan to buy Bitcoin today upon reaching the entry point around $80,600, with a target price of $81,600. At $81,600, I will exit the buy trades and sell back immediately 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: I can buy Bitcoin from the lower boundary at $80,200 in the absence of any market reaction to its breakout back toward the levels of $80,600 and $81,600.

Selling Scenario

#1: I plan to sell Bitcoin today upon reaching the entry point around $80,200, with a target to decline to $79,500. At $79,500, I will exit the sell trades and buy back immediately on the rebound. Before selling on a breakout, ensure the 50-day moving average is above the current price and the Awesome indicator is in the zone below zero.

Scenario #2: I can sell Bitcoin from the upper boundary at $80,600 in the absence of any market reaction to its breakout back toward $80,300 and $79,500.

Ethereum

Buying Scenario

#1: I plan to buy Ethereum today upon reaching the entry point around $2,259, with a target price of $2,294. At $2,294, I will exit the buy trades and sell back immediately 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: I can buy Ethereum at the lower boundary at $2,242 in the absence of any market reaction to its breakout back toward $2,259 and $2,294.

Selling Scenario

Scenario #1: I plan to sell Ethereum today upon reaching the entry point around $2,242, with a target to decline to $2,207. At $2,207, I will exit the sell trades and buy back immediately on the rebound. Before selling on a breakout, ensure the 50-day moving average is above the current price and the Awesome indicator is in the negative zone.

Scenario #2: I can sell Ethereum at the upper boundary at $2,259 in the absence of any market reaction to its breakout back toward $2,242 and $2,207.