Bitcoin and Ethereum were able to withstand significant pressure again, which was exerted on them yesterday in the latter part of the day following a substantial sell-off in the U.S. stock market—an increasingly correlated counterpart to the cryptocurrency market.

Another unsuccessful attempt by Bitcoin to drop below $81,000 sparked buying interest from large investors. The asset is currently trading at around $83,200. Ethereum was also fortunate: after hitting a low of $1,750 during yesterday's U.S. session, it is now trading around $1,804.

Ethereum may receive support soon, as developers have officially scheduled the Pectra upgrade for launch on the Ethereum mainnet on May 7. Pectra is expected to bring several key improvements aimed at enhancing the efficiency and functionality of the Ethereum network. These include optimization of the Ethereum Virtual Machine (EVM), lower gas fees (transaction costs), and enhanced staking capabilities. Additionally, the update will address network security and privacy. The Pectra launch marks an important milestone in Ethereum's development, showcasing the developers' commitment to continuous improvement and adaptation to changing market demands. Successful deployment could positively influence ETH's price and attract new users and developers to the Ethereum ecosystem.

Regarding intraday strategies in the crypto market, I will continue to focus on large pullbacks in Bitcoin and Ethereum, anticipating the continuation of a mid-term bullish market trend, which remains intact.

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

Bitcoin

Buy Scenario

Scenario #1: I plan to buy Bitcoin today upon reaching the entry point around $83,400, targeting a rise to $84,800. Around $84,800, I will exit long positions and sell immediately on the bounce. Before entering a breakout trade, ensure the 50-day moving average is below the current price and the Awesome Oscillator is in the positive zone.

Scenario #2: Buying Bitcoin is also possible from the lower boundary at $82,800 if there is no market reaction to a breakout. Aim for a rebound to $83,400 and $84,800.

Sell Scenario

Scenario #1: I plan to sell Bitcoin today upon reaching the entry point of around $82,800, targeting a decline to $81,500. Around $81,500, I will exit short positions and buy immediately on the bounce. Before entering a breakout trade, ensure the 50-day moving average is above the current price and the Awesome Oscillator is in the negative zone.

Scenario #2: Selling Bitcoin is also possible from the upper boundary at $83,400 if there is no market reaction to a breakout, aiming for a decline to $82,800 and $81,500.

Ethereum

Buy Scenario

Scenario #1: I plan to buy Ethereum today upon reaching the entry point around $1,817, targeting a rise to $1,857. Around $1,857, I will exit long positions and sell immediately on the bounce. Before entering a breakout trade, ensure the 50-day moving average is below the current price and the Awesome Oscillator is in the positive zone.

Scenario #2: Buying Ethereum is also possible from the lower boundary at $1,790 if there is no market reaction to a breakout. Aim for a rebound to $1,817 and $1,857.

Sell Scenario

Scenario #1: I plan to sell Ethereum today upon reaching the entry point of around $1,790, targeting a decline to $1,750. Around $1,750, I will exit short positions and buy immediately on the bounce. Before entering a breakout trade, ensure the 50-day moving average is above the current price and the Awesome Oscillator is in the negative zone.

Scenario #2: Selling Ethereum is also possible from the upper boundary at $1,817 if there is no market reaction to a breakout, aiming for a decline to $1,790 and $1,750.