empty
29.01.2025 09:52 AM
Cryptocurrency Market Trading Recommendations for January 29th

Bitcoin and Ethereum continue to attract strong buying interest on every significant decline, indicating sustained investor demand for these assets. Additionally, frequent mentions of digital assets in interviews with U.S. politicians help maintain optimism for further market growth in the near term.Yesterday, Senator Cynthia Lummis shared her plan for a strategic Bitcoin reserve. She proposed purchasing 200,000 BTC annually for the next five years and holding the cryptocurrency for at least 20 years without selling. According to Lummis, this strategy could cut the U.S. national debt in half over the next two decades. Recently, the pro-crypto senator has also encouraged individuals to invest in Bitcoin for their retirement savings.

This image is no longer relevant

Lummis argues that Bitcoin's unique qualities make it a reliable asset. She emphasized that BTC is less susceptible to inflation than traditional currencies, and its fixed supply makes it an ideal store of value during economic instability. She believes that integrating Bitcoin into the government's financial strategy could strengthen U.S. economic resilience and increase public trust in the traditional financial system.

Yesterday, an unofficial list of U.S.-created tokens that could be included in the U.S. crypto reserve was published. Besides XRP, the list includes Solana (SOL), Chainlink (LINK), Decentraland (MANA), Avalanche (AVAX), and other top altcoins.

Confirming this trend, Morgan Creek Capital Management's CEO recently stated that discussions are underway about including not only BTC in the U.S. crypto reserve but also XRP, ADA, HBAR, and other cryptocurrencies. Additionally, media reports suggest that Eric Trump has confirmed that the U.S. government plans to offer tax incentives for U.S.-based crypto projects.

On January 23, Donald Trump signed an executive order to establish a multi-cryptocurrency reserve in the U.S. and form a task force on the matter. This landmark move signals a shift in the financial landscape, demonstrating the government's adaptation to the rise of digital assets and their impact on traditional finance.

For intraday trading, I will continue to focus on buying major declines in Bitcoin and Ethereum, expecting the bullish market trend to persist in the medium term.

For short-term trading, see the strategies outlined below.

This image is no longer relevant

Bitcoin Trading Scenarios

Buy Scenario

Scenario #1: Buy Bitcoin at $102,900, targeting $104,500. Exit the trade at $104,500 and sell immediately on a pullback. Before buying on a breakout, ensure the 50-day moving average is below the current price and the Awesome Oscillator is above zero.

Scenario #2: Buy Bitcoin at $101,800 if the market does not react to a downside breakout. Target $102,900 and $104,500.

Sell Scenario

Scenario #1: Sell Bitcoin at $101,800, targeting $99,900. Exit the trade at $99,900 and buy immediately on a pullback. Before selling on a breakout, confirm that the 50-day moving average is above the current price and the Awesome Oscillator is below zero.

Scenario #2: Sell Bitcoin at $102,900 if the market does not react to an upside breakout. Target $101,800 and $99,900.

This image is no longer relevant

Ethereum Trading Scenarios

Buy Scenario

Scenario #1: Buy Ethereum at $3,156, targeting $3,244. Exit the trade at $3,244 and sell immediately on a pullback. Before buying on a breakout, ensure the 50-day moving average is below the current price and the Awesome Oscillator is above zero.

Scenario #2: Buy Ethereum at $3,110 if the market does not react to a downside breakout. Target $3,156 and $3,244.

Sell Scenario

Scenario #1: Sell Ethereum at $3,110, targeting $3,041. Exit the trade at $3,041 and buy immediately on a pullback. Before selling on a breakout, confirm that the 50-day moving average is above the current price and the Awesome Oscillator is below zero.

Scenario #2: Sell Ethereum at $3,156 if the market does not react to an upside breakout. Target $3,110 and $3,041.

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 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

Trading Recommendations for the Cryptocurrency Market on July 2

Bitcoin continued its correction and during today's Asian trading session reached a new level of $105,000. Ethereum also dropped significantly but was quickly bought back, stabilizing around $2,425. Meanwhile

Miroslaw Bawulski 08:33 2025-07-02 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.