Hello and welcome to News BTC’s Market Outlook May 05.
DASH/USD
The DASH/USD market exploded to the upside, breaking above the top of the symmetrical triangle during the session on Wednesday. Because of this, looks as if we’re going to go to higher levels, and as I write this we are testing $98. I believe we will make a fresh, new highs so on short-term charts if you get pullbacks it’s time to start buying. We should continue to see buyers reenter the market. Based upon the symmetrical triangle, we are looking at a move to $110 potentially.
LTC/USD
The LTC/USD pair fell initially during the day on Wednesday but found enough support at the $22 level to turn around and form a supportive looking candle. After the explosive move on Tuesday looks like we are going to continue to find buyers every time we pull back. The uptrend continues, selling is all but impossible. Buying short-term pullbacks in small quantities will probably be the way to go as you build up a larger position.
Thank you for watching and see you again 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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