Hello and welcome to News BTC’s market Outlook for April 4.
Bitcoin has been very quiet over the evening, as the resistance level near $1150 continues to cause issues. Because of this, a slight pullback is very likely, but that should only find support near the $1100 level as we continue to drive higher overall. The recent breakout has seen real strength in a reasonable amount of volume, so there’s no reason to think that any turnaround here is worth chasing.
Ethereum initially fell during the session, but continues to find plenty of support near the $40 handle. By bouncing in this manner, it looks as if the buyers are coming back, and a break above $45 could send this market to the $50 level rather quickly. Alternately, a breakdown below the $40 level will more than likely send this market looking for support at lower levels, with the initial place being the $38 handle.
Thank you for watching and see you again tomorrow.