Hello and welcome to News BTC’s Market Outlook May 22.
Ethereum exploded against the US dollar on Friday, finally clearing the psychologically important $100 level. We’ve shot straight up since then, so unless you are already involved and have taken our analysis in the past seriously, you will more than likely need to wait for some type of pullback. The psychologically important $100 level should now be support though, so it looks as if this market will continue the longer-term uptrend.
Ethereum also skyrocketed against Bitcoin but still has the 0.06 level to contend with. If we can break above there, the market should continue to go much higher. In the meantime, we are still in consolidation, but certainly looking more bullish than bearish. Pullbacks continue to offer opportunities to build up a larger position.
Thanks for watching and see you again tomorrow.