Hello and welcome to News BTC’s Market Outlook June 15.
The Ethereum market fell slightly during the session on Wednesday, as we continue to struggle with these lofty highs. The market is in a bubble, and it’s only a matter of time before we break down. With that being the case, I suspect that it’s probably best to either short the market, or wait for a supportive candle that you can take advantage of. Either way, buying up here is very dangerous to say the least.
The ETH/BTC pair continues to look overbought, and as we have fallen a bit during the course of the session on Wednesday. I believe that this market is in a bit of bubble, and as a result the market needs to pull back in order to find value. Selling is a possibility, or, even better would be buying on the dips offers value at lower levels as we are in an uptrend. Nonetheless, buying up here is all but impossible.
Thanks for watching, see you again tomorrow.