Bitcoin had a slightly choppy day on Wednesday, as we continue to hover just below significant resistance. At this point, looks as if short-term pullbacks offer buying opportunities as the market builds up momentum to continue to go higher. Longer-term, I have a target of 1300, but it may take several sessions get there. I also look for support near the 1240 handle.
Ethereum had a very quiet session for most Wednesday, as we continue to hang about the $52 level. Nonetheless, it seems only a matter of time before we break above $53 and continue to go much higher. With this, it seems that buying on the dips will continue to be a viable strategy, as the $50 level below should be significant support based upon recent trading action.
Things for watching and see you again tomorrow.
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