Hello and welcome to News BTC’s Market Outlook for April 11.
BTC/USD
Bitcoin continues to grind higher, making a fresh, new high during the session early Monday, but quite frankly we are starting to get a little bit exhausted as volume drops off. A pullback is more than likely, but this pullback should be seen as an opportunity to pick up “value.” Alternatively, a break above the top of the range for the session is bullish but there is significant resistance at the $1250 level above, ensuring that the move higher will be difficult going forward.
ETH/USD
Ethereum continues to drift sideways overall, as we hover near the $44 level. Currently, it looks as if the market is strongly supported at the $40 handle, but equally is resistive at the $45 level. Short-term “buy on the dips” opportunities may be presenting themselves in this market over the next several sessions. Looking for longer-term use this point is probably asking a bit too much in a market that needs to consolidate after the huge impulsive move higher during a previous couple of weeks. Thank you for watching and see you again tomorrow.
Thank you for watching and 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.
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