Hello and welcome to News BTC’s Market Outlook September 5.
DASH/USD
DASH fell apart over the weekend and going into Monday, as China has announced a ban on ICOs. This is caused a ripple effect throughout the crypto currency world, and crypto currencies are getting absolutely pounded. At the close on Friday, the markets were looking very healthy. However, we have lost 25% since then, and there doesn’t seem to be in and to the selling. Waiting for some type of stability for at least 24 hours is the only play I see here.
LTC/USD
Litecoin fell as well, as we pulled back from the $92.50 level to trade near $65 as I record this. It’s been a 15% loss on Monday alone, and it looks as if we are going to continue to see selling. There is a bit of support at $62.50, but let that area prove itself as support for at least 24 hours before buying. Currently, I don’t have much faith in it happening.
Thanks for watching, I’ll be back 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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