Hello and welcome to News BTC’s Market Outlook June 16.
DASH continue to sell off during the session on Thursday after initially trying to break above the $160 level. As I record this, the market is testing the $140 level, but quite frankly I think that there is more significant support at the $130 level below. Crypto currencies continue to sell off drastically, and of course this one won’t be any different.
LiteCoin continues to look soft as well, and almost undoubtedly will go looking towards the lower levels of this consolidation area for support. Because of this, we could see the market reach down to the $22 level rather rapidly, and then the psychologically important $20 level. Below there, the $18 level looks even more supportive, and if it gets broken below, that would be an extraordinarily negative sign.
Thanks for watching, I’ll see you again on Monday.