FX.co ★ Cryptocurrency Trading Recommendations – August 19 (U.S. Session)

Bitcoin remained trading around $64,500, while Ethereum continued to hold near the $1,900 level.

Meanwhile, spot Bitcoin ETFs recorded net inflows of $189.3 million yesterday, while Ethereum funds added another $71.47 million, primarily driven by BlackRock's ETHA.

XRP attracted $5.81 million, SOL $1.58 million, and LINK $841,000, while HYPE, HBAR, AVAX, DOGE, DOT, LTC, and BNB recorded no inflows. The inflows came on the day immediately following the official termination of trading in Hashdex's fund on NYSE Arca on August 17. This was the first spot Bitcoin ETF in U.S. history to close, with its liquidation having previously been reported amid low assets under management and weak liquidity.

Yesterday's result continues the volatile pattern of the past two weeks, during which a series of inflows was regularly followed by outflows. After a five-day rally that brought in $853.5 million from August 3 to 7, there was an outflow of $144.6 million on August 10, followed by mixed flows through August 13. The biggest reversal occurred on August 15, when Bitcoin and Ethereum ETFs attracted a combined $1.1 billion over the week, ending a prolonged period of net outflows for the first time since the beginning of the year, with BlackRock's IBIT accounting for approximately 80% of the total. Yesterday's $189.3 million therefore looks like a logical continuation of this more sustained phase rather than a one-off surge.

However, an important caveat should be made regarding such figures, as ETF inflows do not always reflect growing optimism about the market as a whole.

Bitcoin

Buying Scenario

Scenario #1: Today, I will buy Bitcoin when the entry point is reached around $64,500, with a target of $64,900. Around $64,900, I will close the long position and immediately look to sell on a rebound. Before buying on a breakout, it is necessary to make sure that the 50-day moving average is below the current price and that the Awesome Oscillator is above zero.

Scenario #2: Bitcoin can be bought from the lower boundary at $64,200 if there is no market reaction to a breakout below this level and the price returns toward $64,500 and $64,900.

Selling Scenario

Scenario #1: Today, I will sell Bitcoin when the entry point is reached around $64,200, with a target of $63,800. Around $63,800, I will close the short position and immediately look to buy on a rebound. Before selling on a breakout, it is necessary to make sure that the 50-day moving average is above the current price and that the Awesome Oscillator is below zero.

Scenario #2: Bitcoin can be sold from the upper boundary at $64,500 if there is no market reaction to a breakout above this level and the price returns toward $64,200 and $63,800.

Ethereum

Buying Scenario

Scenario #1: Today, I will buy Ethereum when the entry point is reached around $1,920, with a target of $1,932. Around $1,932, I will close the long position and immediately look to sell on a rebound. Before buying on a breakout, it is necessary to make sure that the 50-day moving average is below the current price and that the Awesome Oscillator is above zero.

Scenario #2: Ethereum can be bought from the lower boundary at $1,911 if there is no market reaction to a breakout below this level and the price returns toward $1,920 and $1,932.

Selling Scenario

Scenario #1: Today, I will sell Ethereum when the entry point is reached around $1,911, with a target of $1,895. Around $1,895, I will close the short position and immediately look to buy on a rebound. Before selling on a breakout, it is necessary to make sure that the 50-day moving average is above the current price and that the Awesome Oscillator is below zero.

Scenario #2: Ethereum can be sold from the upper boundary at $1,920 if there is no market reaction to a breakout above this level and the price returns toward $1,911 and $1,895.