BTC/USD and ETH/USD Forecast April 13, 2017

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Hello and welcome to News BTC’s Market Outlook April 13

BTC/USD

The Bitcoin market was a bit softer during the Wednesday session, but did end up finding support near the $1230 level. Short-term pullback should continue to offer buying opportunities, but I recognize that there is a significant amount of resistance above. I believe that the $1200 level below is the “floor” in this market, so therefore this becomes a “buy on the dips” type of market on short-term charts.

ETH/USD

Ethereum continues to hover just below the $44 handle. I believe that the market will continue to consolidate between the $40 level on the bottom and the $45 level on the top, the currently looks likely to reach for consolidation more than anything else as we need to take a breath after the massive move higher. The market is still very bullish, but after the massive move that we have seen over the last couple of months, it makes sense that the market will just knock around sideways for a while.

Thank you for watching and see you again tomorrow.