Hello and welcome to News BTC’s Market Outlook October 6.
DASH/USD
DASH continues to see bullish pressure on dips, as the $296 level has offered enough support to turn things around. Ultimately, I believe that the market should break towards the $320 level above, where I see the next significant amount of resistance. I think that pullbacks are value plays, and I also believe that markets will continue to look at them as such. After all, crypto currencies overall have seen quite a bit of buying during the day.
LTC/USD
Litecoin also fell, but found enough support at the psychologically important $50 level to turn around and reach towards the $52 handle. A break above there is a very bullish sign, sending this market looking towards the $53 level, and then possibly even higher than that. I like this market, and I like the $50 level as a bit of a “floor.”
Thanks for watching, I’ll see you Monday.
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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