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BTC/USD and ETH/USD Forecast April 19, 2017

Avatar newsbtc 3 years ago

Hello and welcome to News BTC’s Market Outlook April 19.

BTC/USD

Bitcoin has been relatively choppy over the last 24 hours, but certainly has a bit of an upward bias. When you look at the 4-hour chart, you can see a couple of hammers, which of course suggests that buyers are coming in every time the market dips. It now looks as if a breakout is imminent. Buying on dips and of course a move higher E is the best play.

ETH/USD

By contrast, Ethereum continues to struggle near the $52 level. However, a pullback of this point is more than likely going to be a bit of a momentum building exercise. Given enough time, I still anticipate that this market breaks out but clearly at the moment, Bitcoin is the better market to be trading. Expect to see significant support at the $49 level.

Thanks for watching and see you again tomorrow.

 

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