Hello and welcome to News BTC’s Market Outlook May 03.
DASH fell a bit during the session on Tuesday, gapping lower. We reached all the way down to the $84 level and I think we may have a little bit farther to go. The $82 level and most certainly the $80 level will offer support in my estimation, so I’m looking for some type of supportive candle in that area to start buying again. I have no interest in shorting, that money has already been made.
LiteCoin continues to bounce around just below the $17 level. Because of this, I am buying on short-term dips and looking to reach towards the $18 level, and then eventually the $20 level. I believe there is significant support down to at least the $15 level, as we consolidate after a sharp move higher. This is still a very bullish market, so therefore I believe that eventually the buyers will return.
Thanks for watching and see you again tomorrow.