Hello and welcome to News BTC’s Market Outlook June 15.
DASH initially tried to rally during the session on Wednesday, but turned around to form a negative candle for the session. We are starting to see a bit of a bubble in the crypto currency sector, and this of course is a going to be any different. I believe that there is massive support below at the $150 level underneath. Either way, the market looks as if it can get a nice corrective move in the short term so that we can pick up value.
LiteCoin tried to rally as well, but found the area above the $30 level to be far too resistive to continue. Because of this, the market will more than likely grind back and forth, trying to pick up value underneath. I do believe that we go higher over the longer term, but most digital currencies are bit overbought currently. Because of this, looks for value underneath based upon supportive candles or even bounces.
Thanks for watching, 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.