Hello and welcome to News BTC’s Market Outlook Aug 16.
ETH/USD
Ethereum fell a bit during the day on Tuesday, as we are now testing the $280 level. I believe this is an area that should offer a significant amount of support, so we break down below there that could be very negative sign, perhaps sending this market down to the $265 level. Alternately, if we can get a bounce from here I think the market will go looking towards the $300 level again.
ETH/BTC
Ethereum bounced after initially falling against Bitcoin, using the 0.066 level as support. We now have the 0.072 level above offering resistance, so if we can break above there I think we could go as high as the 0.076 level. Alternately, if we show signs of exhaustion, the market will more than likely rollback down to the lows of the day.
Thanks for watching, I’ll see you again tomorrow.
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.
<!–
–>
Our Social Networks: Facebook Instagram Pinterest Reddit Telegram Twitter Youtube
