FX.co ★ Trading tips for crypto market on October 8 (North American session)

Bitcoin gradually recovers after a correction to $121,000, now trading around $123,000. Ethereum, meanwhile, is showing a quieter performance.

It has been reported that S&P Global, the company behind the S&P 500 and Dow Jones Industrial Average, together with Dinari, has announced its first hybrid index combining cryptocurrencies and crypto-related equities. The new S&P Digital Markets 50 Index will include 15 major cryptocurrencies and 35 stocks of companies involved in digital asset operations.

According to S&P Global, the index is designed to meet growing investor demand for diversified exposure to digital assets. It will serve as a benchmark for investors seeking access to this rapidly expanding sector.

The structure of the index — combining cryptocurrencies with shares of companies active in the digital economy — provides a balanced investment approach. The crypto component gives investors direct exposure to the growth of leading digital currencies, while equities in mining, blockchain development, and crypto exchange companies offer risk diversification and participation in the broader expansion of the digital-asset market.

The launch of the S&P Digital Markets 50 is expected to attract both institutional and retail investors. In its Tuesday statement, S&P Global said the index would provide market participants exploring crypto opportunities with a performance indicator spanning both sides of the crypto ecosystem. No single asset will account for more than 5% of the index, with minimum market capitalization thresholds set at $100 million for equities and $300 million for cryptocurrencies.

Intraday crypto market strategy

I continue to focus on buying on major dips in Bitcoin and Ethereum, expecting the medium-term bull market to remain intact.

Bitcoin

Buy scenario

Scenario 1 Buy Bitcoin at the $123,200 entry point with a target at $124,000. Exit long positions near $124,000 and sell during a bounce. Before buying on a breakout, confirm that the 50-day moving average is below the current price and the Awesome Oscillator is above zero.

Scenario 2 Consider buying from the lower border at $122,400 if there is no bearish reaction to its breakout, with upside targets at $123,200 and $124,000.

Sell scenario

Scenario 1 Sell Bitcoin at the $122,400 entry point with a target at $120,900. Exit short positions near $120,900 and buy immediately on a dip. 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 Consider selling from the upper border at $123,200 if there is no bullish reaction to its breakout, targeting $122,400 and $120,900.

Ethereum

Buy scenario

Scenario 1 Buy Ethereum at the $4,520 entry point with a target at $4,596. Exit long positions near $4,596 and sell immediately on the rebound. Before buying on a breakout, make sure that the 50-day moving average is below the current price and the Awesome Oscillator is above zero.

Scenario 2 Consider buying from the lower border at $4,468 if there is no bearish reaction to its breakout, with targets at $4,520 and $4,596.

Sell scenario

Scenario 1 Sell Ethereum at the $4,468 entry point with a target at $4,387. Exit short positions near $4,387 and buy immediately during a dip. 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 Consider selling from the upper border at $4,520 if there is no bullish reaction to its breakout, targeting $4,468 and $4,387.