Hello and welcome to News BTC’s Market Outlook September 1.
ETH/USD
Ethereum went sideways most of the session on Thursday, but found enough buying pressure near the $380 level to turn around and rally. I believe that the market is going to continue to go higher, probably looking for the psychologically significant $400 level. That area could cause a little bit of resistance, but I think it will be short-term at best. Given enough time, I believe that the markets will continue to favor buying, and dips should offer value.
ETH/BTC
Ethereum fell against Bitcoin as it has been a strong performer during the day. I still believe that although Ethereum is a strong performer against the US dollar, against Bitcoin itself it’s going to struggle overall. I believe that the market will continue to underperform although it could be very bullish.
Thanks for watching, I’ll be back 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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