Hello and welcome to News BTC’s Market Outlook July 14.
DASH initially fell during the day on Thursday, but found enough support near the $170 level to turn around and form a hammer. I think if we continue to see this type of action, we will eventually see the market build up enough momentum to go higher, but currently I think for the most part we are in what looks to be an accumulation phase, meaning that the market is trying to build up enough confidence to go higher.
LiteCoin fell during the day, but it seems to be very likely finding support just below the $42.50 level underneath. Because of this, I think it’s only a matter of time before the market grinds its way back to the $55 level, and that being the case, I think that it is a “buy on the dips” situation. I think given enough time, we will not only reach the highs, but break out.
Thanks for watching, and we’ll see you again tomorrow.