The post Crypto Trading Expert Shares Key Insights on Bitcoin and Ethereum Strategies  appeared on BitcoinEthereumNews.com.

Bitcoin and Ethereum, the two biggest players in the crypto world, have been teasing new highs but remain stuck in a holding pattern. Is a breakout on the horizon, or are we due for a correction? Crypto expert Jacob Canfield shares his insights on what could be next for these digital giants, outlining two potential scenarios for Bitcoin and a strategic buying zone for Ethereum. Canfield’s analysis and strategic plan offer valuable guidance for crypto investors. Before we explore the insights of the expert, let’s understand the current market scenario of Bitcoin and Ethereum. Market Overview: Bitcoin and Ethereum As of now, Bitcoin is priced at $66,326. In mid-March 2024, Bitcoin’s price was above $73,000. It has attempted to reach this peak several times in early April, late May, and early June. The 7-day change for Bitcoin stands at -4.5%, while the 30-day change is +0.6%. Ethereum is currently priced at $3,552. In mid-March 2024, its price was over $4,000. Similar to Bitcoin, Ethereum also attempted to touch its peak in late May and early June. The 7-day change of Ethereum is -4.2%, while the 30-day change is +17.2%. Canfield’s Insights: Two Possible Scenarios for Bitcoin  Scenario 1: A Minor Drop and Quick Rebound  Canfield predicts that if Bitcoin’s price drops to around $66,000, it could quickly bounce back and rise to $70,000. This scenario suggests a minor correction followed by a strong upward trend. Scenario 2: A Deeper Decline  In this more bearish scenario, Canfield sees Bitcoin falling sharply to between $60,000 and $62,000. This deeper drop would require more caution and could signal a more prolonged correction period. $BTC / #Bitcoin – Two scenarios I’m watching: 1.) Sweep $66,000 low with a strong reaction bounce reclaim to head towards $70,000. 2.) Deep capitulation wick down to $60k-$62k. No…

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Filed under: News - @ June 15, 2024 10:26 am