Hello and welcome to News BTC’s Market Outlook June 5.
Ethereum fell slightly against the US dollar on Friday, as we continue to grind back and forth. It appears that the $200 level will offer support, and the longer-term trend is most certainly to the upside. It is because of this that I have no interest in shorting, and look at pullbacks as potential opportunities to buy Ethereum at a better price.
Ethereum initially rallied against Bitcoin but turned around and fell against it as well. It looks as if the 0.09 level is the beginning of support though, and I think the support extends down to the 0.08 level at the very least. Because of this, I’m looking for a bounce or supportive candle to take advantage of value in this market as well.
Thanks for watching and I’ll see you tomorrow.