Hello and welcome to News BTC’s Market Outlook May 09.
ETH/USD
Ethereum fell a bit during the Monday trading session as we reached towards the $90 handle. This is an area that should cause quite a bit of support though, and we did bounce from that level so I think we are currently accumulating position size in order to go towards the $100 level again. Buying short-term dips will more than likely offer decent trading opportunities. A break above the $100 level of course is very bullish.
ETH/BTC
Ethereum fell against Bitcoin, but continues to find support below. This time, it was the 0.055 level that saw a bit of buying pressure, as we gradually rise over time. I believe that buying dips continues to be the way going forward, but think of this more as an investment, and less as a trade. Going forward, I expect the market to reach too much higher 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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