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BTC/USD and ETH/USD Forecast April 3, 2017

Avatar newsbtc 2 years ago

Hello and welcome to News BTC’s market Outlook for April 3.

BTC/USD

Looking at the Bit Coin to US dollar chart, you can see that we have seen quite a bit of bullish pressure during the evening hours. It appears that the buyers are going to try to make a run towards recent highs, near the $1165 level. Overnight, we have seen quite a bit of buying pressure and it now looks as if the uptrend should continue that we have seen over the last couple of weeks. Having said that, there is a significant amount of noise just above, so expect choppy trading conditions with a generally upward bias.

ETH/USD

Ethereum initially saw quite a bit of selling at the open, but has since seen buyers jumping back into the market at roughly $46. This is an area that had caused quite a bit of resistance in the past, so market memory dictates that it should be supported. On a break above the $47.30 level, it looks as if the buyers will try to push the crypto currency to the $50 handle. The market has been very bullish over the longer term, so the buyers will feel encouraged that support seems to be holding.

Thank you for watching and see you again tomorrow.

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