Bitcoin and Ether performed well today in terms of buying following a pause in yesterday's bear market. Demand has returned to the cryptocurrency market, especially after geopolitical tensions eased somewhat. This came after a statement by a senior Iranian official suggesting that Iran is willing to discuss restrictions on uranium enrichment.

Meanwhile, according to a report from BRN, the hawkish Federal Reserve, thin summer liquidity, and ongoing unrest in the Middle East still exert pressure on the Bitcoin market. However, new corporate purchases are keeping long-term prospects optimistic.

A notable example is Semler Scientific, which announced plans to increase its Bitcoin holdings from 4,449 BTC to 100,500 BTC by 2027. The medical device maker will raise capital via convertible bonds and share offerings, employing a strategy first pioneered by Michael Saylor's firm, MicroStrategy, and later adopted by others such as Bitdeer and DDC Enterprise.

"While the market remains cautious and short-term sentiment is shaped by geopolitical uncertainty, we view the Semler Scientific news as a key signal of structural demand," stated BRN in its research note.

At a price of approximately $105,900 per coin, Semler Scientific's Bitcoin reserves are valued at around $462 million, while the company's market capitalization hovers around $420 million. This discount to net asset value may attract investors seeking direct exposure to Bitcoin.

Meanwhile, some analysts warn about technical market patterns resembling the boom-and-bust cycles of 2021.

Intraday strategy in the crypto market

Going forward, I will continue to trade based on any major pullbacks in Bitcoin and Ether, anticipating the continuation of the medium-term bull market, which remains intact.

For short-term trading, the strategy and setup are as follows:

Bitcoin

Buy scenario

Scenario 1: I will buy Bitcoin today if the entry point around $105,100 is reached, with a target of $106,500. I will exit the position and sell immediately on a bounce near $106,500. Before buying on a breakout, I must confirm that the 50-day moving average is below the current price and the Awesome Oscillator is in positive territory.

Scenario 2: An alternative buy setup is from the lower boundary of $104,000, provided the market shows no reaction to its breakout, targeting $105,100 and $106,500.

Sell scenario

Scenario 1: I will sell Bitcoin today if the entry point near $106,200 is reached, aiming for a decline to $107,300. I will exit the position and buy on a bounce near $107,300. Before selling on a breakout, I must ensure the 50-day moving average is above the current price and the Awesome Oscillator is in negative territory.

Scenario 2: Another selling opportunity lies at the upper border of $105,600, provided the market does not respond to a breakout, targeting $106,200 and $107,300.

Ethereum

Buy scenario

Scenario 1: I will buy Ether today if the entry point around $2,560 is reached, aiming for a rise to $2,601. I will exit the position and sell on a bounce near $2,601. Before buying on a breakout, I must confirm that the 50-day moving average is below the current price and the Awesome Oscillator is in positive territory.

Scenario 2: An alternative buy setup is from the lower border of $2,536, assuming no market reaction to its breakout, targeting $2,560 and $2,601.

Sell scenario

Scenario 1: I will sell Ether today if the entry point near $2,536 is reached, targeting a decline to $2,499. I will exit the position and buy on a bounce near $2,499. Before selling on a breakout, I must ensure the 50-day moving average is above the current price and the Awesome Oscillator is in negative territory.

Scenario 2: Another selling opportunity lies at the upper border of $2,560, provided the market does not respond to a breakout, targeting $2,536 and $2,499.