Hello and welcome to News BTC’s Market Outlook September 7.
ETH/USD
Ethereum initially dipped during the day on Wednesday, but found enough support at $320 to turn around and rally again. However, we are in an area that has previously been supportive, so it should now be resistive. With this in mind, I am not a buyer at these levels. I believe that a break above the $350 level would be what we need to see, or perhaps a pullback to show signs of support, perhaps near the $310 level.
ETH/BTC
Ethereum went sideways on Wednesday, as we struggle with the 0.075 level against Bitcoin. I believe that the sellers are probably going to come back relatively soon, so therefore I am not looking to buy this market. In fact, I anticipate that we will probably try to roll over rather soon.
Thanks for watching, all 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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