empty
29.05.2025 03:46 PM
Trading tips on crypto market for May 29 (North American session)

Bitcoin has shown a fairly solid rebound, climbing back above the $108,000 mark and breaking through $109,000. The chart below highlights a morning breakout through the $108,100 level.

This image is no longer relevant

Statistics confirm that new participants and players actively enter the market. Amid growing interest in the cryptocurrency space and Bitcoin's price volatility, analyzing whale behavior clears up the picture. According to the latest data, the number of wallets holding between 1,000 and 10,000 BTC continues to grow steadily, signaling an ongoing accumulation process.

Interestingly, the data provided by CryptoQuant excludes wallets owned by miners and crypto exchanges, which allows for a more accurate assessment of independent investor behavior. Monitoring groups specializing in crypto market activity report that wallets with 1,000 to 10,000 BTC represent one of the most active whale groups. Their actions significantly impact price movements and overall market sentiment.

The accumulation of Bitcoin by these wallets likely reflects strong confidence among large holders in the long-term bullish outlook for cryptocurrency. They may view current price levels as attractive buying opportunities, betting on further price increases in the future.

The activity of these wallets deserves close attention, as large transactions made by whales can trigger short-term price swings and increase market volatility.

Intraday strategy

As for the intraday strategy in the crypto market, I plan to continue buying based on any major dips in Bitcoin and Ethereum, expecting the bullish mid-term trend to remain intact.

Short-term trading strategy

Bitcoin

This image is no longer relevant

Bitcoin buy scenarios

Scenario 1: I'll buy Bitcoin today upon reaching the $109,000 entry point, targeting a rise to $110,000. At the $110,000 mark, I'll exit long positions and sell immediately on the pullback. Before executing a breakout buy, I'll make sure the 50-day moving average is below the current price and the Awesome Oscillator is in positive territory.

Scenario 2: Buying BTC from the lower boundary at $108,500 is also possible, provided there's no bearish reaction to a break below. In this case, the targets will be $109,000 and $110,000.

This image is no longer relevant

Bitcoin sell scenarios

Scenario 1: I'll sell Bitcoin today if it reaches the $108,500 entry point, targeting a drop to $107,500. At $107,500, I'll exit short positions and buy immediately on the bounce. Before selling on a breakout, I'll ensure the 50-day moving average is above the current price and the Awesome Oscillator is in negative territory.

Scenario 2: Selling BTC from the upper border at $109,000 is also viable if there's no bullish reaction to a breakout. Targets here would be $108,500 and $107,500.

Ethereum

This image is no longer relevant

Ethereum buy scenarios

Scenario 1: I'll buy Ethereum today upon reaching the $2,746 entry point, with a target at $2,807. At $2,807, I'll exit long positions and sell on the pullback. Before executing the breakout buy, I'll check that the 50-day moving average is below the current price and the Awesome Oscillator is in the positive zone.

Scenario 2: Buying ETH from the lower boundary at $2,708 is an option if there's no market reaction to a downside break, targeting $2,746 and $2,807.

Ethereum sell scenarios

Scenario 1: I'll sell Ethereum today if it hits the $2,708 entry point, aiming for a decline to $2,653. At $2,653, I'll exit short positions and buy immediately on the bounce. Before selling on a breakout, I'll ensure the 50-day moving average is above the current price and the Awesome Oscillator is in negative territory.

Scenario 2: Selling ETH from the upper border at $2,746 is also possible if there's no bullish reaction to the breakout, with targets at $2,708 and $2,653.

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

Crypto market shows extremely low volatility

Bitcoin volatility has dropped to a historic low, while Bitcoin itself is trading within 2% of its all-time high. The lack of willingness to buy at current prices could become

Jakub Novak 13:46 2025-07-09 UTC+2

Crypto market resilient despite dollar volatility

BTC/USD is rising again today after yesterday's dip, overall maintaining its bullish momentum. Fundamentally, conditions continue to support BTC/USD growth in the medium term. The global economic and market landscape

Jurij Tolin 14:14 2025-07-08 UTC+2

Japan's digital bank by Metaplanet

While Bitcoin stubbornly refuses to decline, fueled by massive demand from ETF funds, the Japanese firm Metaplanet is planning to use its Bitcoin reserves to create the first digital bank

Jakub Novak 13:46 2025-07-08 UTC+2

Trading tips for crypto market on July 8

Both Bitcoin and Ethereum remain on a sound footing, poised to continue a bullish trend. As long as BTC continues trading above the $105,000 mark, the odds of further growth

Miroslaw Bawulski 12:16 2025-07-08 UTC+2

Clarity act on digital asset market gains support

Bitcoin and Ethereum have returned to the channels in which they spent most of last week. While Bitcoin has yet to break above the $109,000 mark, the prospects

Jakub Novak 11:00 2025-07-08 UTC+2

Elon Musk's America party advocates for Bitcoin and digital assets

The recently formed political party, America Party led by Elon Musk, will support Bitcoin. This was announced by the Tesla CEO himself on social media. "Fiat is hopeless

Jakub Novak 15:31 2025-07-07 UTC+2

Bitcoin will test its Support.1 after successfully breaking through and closing below the Uptrendline intraday chart, Friday, July 4, 2024.

Bitcoin – Friday, July 4, 2025. With an inflow into the Bitcoin ETF around USD$ 50 billion, it shows strong interest from investors, thus strengthening the legitimacy of this cryptocurrency

Arief Makmur 07:58 2025-07-04 UTC+2

Ripple has the potential to correct and weaken down to the Support level of 2.1924, Friday, July 4, 2025.

Ripple – Friday, July 4, 2025 Friendly regulatory pressure and the case with the SEC that seems to be stopped and open interest in the derivatives market that has jumped

Arief Makmur 07:58 2025-07-04 UTC+2

Trading Recommendations for the Cryptocurrency Market on July 4

Bitcoin has encountered significant resistance around $110,000, and it is unlikely to break through this level easily in the near term. Ethereum is also facing difficulties moving above the $2,600

Miroslaw Bawulski 07:27 2025-07-04 UTC+2

Trading Recommendations for the Cryptocurrency Market on July 3

Bitcoin and Ether have resumed growth, reaching new weekly highs amid favorable macroeconomic conditions. Over the past 24 hours, Bitcoin has risen by 2.5%, trading above $109,000. Ethereum also advanced

Miroslaw Bawulski 08:47 2025-07-03 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.