Earlier this week, many were worried that Bitcoin might plunge sharply toward the 110,000 level, fearing a deeper correction toward 100,000. However, market sentiment has since shifted in the opposite direction.

Following yesterday's rebound to the 117,000 area and the renewed upward movement in prices, bullish sentiment around BTC has surged again. According to Santiment data, discussions about levels above 130,000 per Bitcoin have significantly increased, with some expecting these targets to be reached as early as this autumn. The euphoria, fueled by the recent rally, continues to support positive sentiment in the crypto community, inspiring investors to make bold forecasts and adopt aggressive strategies. However, such waves of optimism often mask underlying risks that shouldn't be ignored. The history of the crypto market is full of sudden corrections and unpredictable events capable of turning the tide in an instant.

Despite the positive trend, traders should remain cautious and avoid falling into the herd mentality. Fundamental analysis, risk assessment, and portfolio diversification remain key components of a sound investment strategy. It's important to remember that past performance does not guarantee future results, and even the most optimistic forecasts may not materialize.

At the same time, growing institutional interest in cryptocurrencies, infrastructure development, broader BTC adoption, and evolving regulatory frameworks in the U.S. and other countries all contribute to a favorable backdrop for further growth. The question remains whether this growth will be sustainable—or followed by another painful correction.

As for the intraday crypto trading strategy, I will continue to rely on buying major dips in Bitcoin and Ethereum, anticipating the continuation of a medium-term bull market, which remains intact.

The short-term trading strategy is outlined below.

Bitcoin

Buy Scenario

Scenario #1: I will buy Bitcoin today upon reaching the entry point around 116,900, targeting growth toward 117,800. Around 117,800, I will exit long positions and immediately sell on the rebound.

Before entering on a breakout, make sure the 50-day moving average is below the current price, and the Awesome Oscillator is in positive territory.

Scenario #2: Bitcoin can also be bought from the lower boundary of 116,300 if there is no market reaction to a breakout downward, aiming for a return to 116,900 and 117,800.

Sell Scenario

Scenario #1: I will sell Bitcoin today upon reaching the entry point around 116,300, targeting a decline to 115,000. Around 115,000, I will exit short positions and immediately buy on the rebound.

Before selling on a breakout, make sure the 50-day moving average is above the current price, and the Awesome Oscillator is in negative territory.

Scenario #2: Bitcoin can also be sold from the upper boundary of 116,900, if there is no market reaction to a breakout upward, aiming for a drop to 116,300 and 115,000.

Ethereum

Buy Scenario

Scenario #1: I will buy Ethereum today upon reaching the entry point around 3939, targeting growth toward 4038. Around 4038, I will exit long positions and immediately sell on the rebound.

Before entering on a breakout, make sure the 50-day moving average is below the current price, and the Awesome Oscillator is in positive territory.

Scenario #2: Ethereum can also be bought from the lower boundary of 3879, if there is no market reaction to a breakout downward, aiming for a return to 3939 and 4038.

Sell Scenario

Scenario #1: I will sell Ethereum today upon reaching the entry point around 3879, targeting a decline to 3800. Around 3800, I will exit short positions and immediately buy on the rebound.

Before selling on a breakout, make sure the 50-day moving average is above the current price, and the Awesome Oscillator is in negative territory.

Scenario #2: Ethereum can also be sold from the upper boundary of 3939, if there is no market reaction to a breakout upward, aiming for a drop to 3879 and 3800.