Hello and welcome to News BTC’s Market Outlook July 12.
Ethereum had a rough start to the Tuesday session, but found buyers near the $170 level. In fact, we found enough buyers that we turned around and bounced over the $200 handle. Because of the action, it looks like the buyers are coming back in. On a break above the $222 level, that should signal a fresh new wave of buying.
Ethereum did much the same against Bitcoin, as it looks as if the 0.0750 level has offered enough support to turn the market around again. On a break above the 0.09 level, the market looks as if it should attract more buying, based upon a value proposition. Expect volatility, but it looks as if support has finally returned.
Thanks for watching, we’ll see you again tomorrow.