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07.08.2026 09:32 AM
Trading Recommendations for the Cryptocurrency Market on August 7

Bitcoin and Ethereum are trading within a sideways channel, but despite small inflows into spot ETFs, market fear persists.

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The inflow of $244.4 million into Bitcoin ETFs yesterday continued the trend that began at the start of August, with the three-day total reaching $626 million. BlackRock's flagship IBIT accounted for $196.8 million of this amount, bringing its cumulative inflow since launch to nearly $61 billion. Ethereum ETFs saw a second consecutive day of inflows, totaling $60.86 million and bringing the two-day total to $114.6 million. The only notable exception in this context was XRP, which saw an outflow of $3.58 million, while HYPE once again brought in modest but stable inflows of $966,000. Other assets, including SOL, LINK, HBAR, DOGE, LTC, AVAX, DOT, and BNB, remained at zero values.

The paradox of the moment is that this capital inflow does not align with market sentiment. The Fear and Greed Index remains in the extreme fear zone at a reading of 25, having declined from 27 the day before, even as Bitcoin prices rose above $64,900 on those days. This divergence between the actual funds flowing in through regulated funds and the overall sentiment of retail and some institutional investors continues to highlight that traders are acting very cautiously and that the market bottom has yet to be found.

Regarding short-term trading, the strategy and conditions are described below.

Bitcoin

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Buying Scenario

Scenario No. 1: I plan to buy Bitcoin today when the entry point reaches around $64,400, targeting a rise to the level of $64,900. At $64,900, I will exit my buy positions and sell immediately on a rebound. Before buying on a breakout, ensure that the 50-day moving average is below the current price and that the Awesome indicator is in the zone above zero.

Scenario No. 2: Buying Bitcoin can also be considered from the lower boundary of $64,200, in the absence of a market reaction to its breakout back to $64,400 and $64,900.

Selling Scenario

Scenario No. 1: I plan to sell Bitcoin today when the entry point reaches around $64,200, targeting a drop to the level of $63,800. At the point of $63,800, I will exit my sell positions and buy immediately for a rebound. Before selling on a breakout, ensure that the 50-day moving average is above the current price and that the Awesome indicator is in the zone below zero.

Scenario No. 2: Selling Bitcoin can also be considered from the upper boundary of $64,400, in the absence of a market reaction to its breakout back to $64,200 and $63,800.

Ethereum

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Buying Scenario

Scenario No. 1: I plan to buy Ethereum today when the entry point reaches around $1,905, targeting a rise to the level of $1,922. At $1,922, I will exit my buy positions and sell immediately on a rebound. Before buying on a breakout, ensure that the 50-day moving average is below the current price and that the Awesome indicator is in the zone above zero.

Scenario No. 2: Buying Ethereum can also be considered from the lower boundary of $1,898, in the absence of a market reaction to its breakout back to $1,905 and $1,922.

Selling Scenario

Scenario No. 1: I plan to sell Ethereum today when the entry point reaches around $1,898, targeting a drop to the level of $1,880. At $1,880, I will exit my sell positions and buy immediately on a rebound. Before selling on a breakout, ensure that the 50-day moving average is above the current price and that the Awesome indicator is in the zone below zero.

Scenario No. 2: Selling Ethereum can also be considered from the upper boundary of $1,905 in the absence of a market reaction to its breakout back to the levels of $1,898 and $1,880.

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