Bitcoin (CRYPTO: BTC) is in an interesting spot from a technical perspective, according to a popular trader that outlined his trading approach for the short term.

“I’m Long On Bitcoin”

In a podcast on June 28, heavily followed trader Crypto Banter said he is fully positioned for what he calls "Scenario A," a strong relief rally from current levels toward $72,000.

Bitcoin’s support around the high-$58,000 to low-$60,000 range, combined with weekly bullish divergence and Fibonacci confluence, makes this an attractive accumulation zone, the trader said.

He placed his invalidation below $57,400, adding that a break beneath that level would increase the probability of a much deeper move.

"I’ve gone long in the markets. I’m long on Bitcoin. I’m long on multiple altcoins and I’m going to continue building altcoin positions,” he added.

The trader’s first Bitcoin profit target sits at $67,000, followed by a second target near $71,000, expecting the move to play out over the next one to two weeks.

Altcoins On The Radar

Beyond Bitcoin, the trader has opened or is building positions in several major altcoins:

  • Ethereum (CRYPTO: ETH): Entry around $1,500-$1,600 with targets at $1,750 and $1,890.
  • Solana (CRYPTO: SOL): Buying between $68 and $72, targeting $92 and $105.
  • Injective (CRYPTO: INJ): Accumulating around $4.4-$4.7 with upside targets at $6.1 and $7.1.
  • Avalanche (CRYPTO: AVAX): Watching the $6.10-$6.25 zone, targeting $7.60 and $8.60.
  • Render (CRYPTO: RENDER): Buying between $1.50 and $1.54 with targets at $1.86 and $2.20.
  • Sui (CRYPTO: SUI): Building positions between $0.665 and $0.69 while placing stops below the 0.786 Fibonacci retracement.

He also highlighted Near Protocol (CRYPTO: NEAR), Arweave (CRYPTO: AR), Fetch.ai (CRYPTO: FET), Chainlink (CRYPTO: LINK), Dogecoin (CRYPTO: DOGE), The Graph (CRYPTO: GRT) and Bittensor (CRYPTO: TAO) as projects on his watchlist, although he prefers waiting for confirmed trendline breakouts before entering those trades.

Image: Shutterstock