Hello and welcome to News BTC’s Market Outlook May 08.
DASH/USD
DASH rose drastically during the Friday session, making a fresh, new high. We are now above the $104 level, and it looks as if the market is ready to go much higher. Because of this, I believe that short-term pullbacks offer nice buying opportunities, especially near the $100 level as it will have a certain amount of psychological importance to this market. The selling of this pair is all but impossible now.
LTC/USD
LiteCoin continues to look very strong, as we have broken above the $28 level. This is a market that is a bit ahead of itself though, so I still prefer to buy on pullbacks as it at least offers a little bit of value. Buying at these levels would be chasing the trade, and that’s a great way to lose money. I currently have a target of $30, but am uncomfortable putting money to work at these lofty levels.
Thanks 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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