Hello and welcome to News BTC’s Market Outlook May 23.
ETH/USD
Ethereum rallied significantly during the day on Monday, reaching towards the 190 handle. This of course is a very bullish market, so I think waiting for pullbacks will be the best way to go in a market that looks very bullish. I have no interest in shorting this market, and I believe that the $150 level should now offer significant support. One would have to believe the $200 is in the sight of traders now.
ETH/BTC
Ethereum has finally broken out against Bitcoin, and now looks set to go to the 0.10 level above which is the next large, round, psychologically significant number. This being the case, I like the idea of buying dips and believe that the market is well supported below at the 0.06 level. Ultimately, Ethereum continues to march higher.
Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment/trading advice. All the information is believed to come from reliable sources. NewsBTC does not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be liable for any loss incurred.
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