We will be covering bitcoin and Ethereum as well for our short term cryptocurrency plays (aside from just Solana).
Here are our short term trading plans for bitcoin and Ethereum.
Bitcoin is currently pulling back. After hitting its all time high at around $74,000, bitcoin is now back below $70,000. As of this moment, bitcoin is trading around $69,500.
Bitcoin’s uptrend is still intact and odds are good it will form a higher low.
Our suggestion is to buy bitcoin in tranches all the way down to $65,000.
On the other hand, Ethereum is currently consolidating.
Ethereum has a resistance at just below $2,800.
Considering that Ethereum is moving just within a range, we suggest accumulating in tranches all the way down to its low at around $2,200.
So far, there are no bad news for cryptocurrencies. We think that these pullbacks are just because of lack of fresh drivers. For bitcoin, it could be building up some momentum before it will attempt to break its all-time high again.