Hello and welcome to News BTC’s Market Outlook May 19.
ETH/USD
The Ethereum market rallied during the day on Thursday, reaching towards the $100 level. This is a market that continues to find plenty of support just below, and I believe that it is only a matter of time before we not only reach the $100 level, but breakout to the upside and continue to going much higher than that. I believe that the $85 level is going to continue to offer significant support. Ultimately, I have no interest in selling.
ETH/BTC
Ethereum also rallied against bit coin, but we are currently consolidating in general, and that being the case it looks as if we are still trying to build up a position to the upside. If we can break above the 0.06 handle, the market should continue to go much higher. At that point, the market should then continue the longer-term move higher, but in the meantime it’s probably best to build up the position and short and small increments.
Thanks for watching and see you again on 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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