Hello and welcome to News BTC’s Market Outlook Aug 1.
DASH continues to be volatile, as we initially tried to rally during the day on Monday, but the $180 level proved to be far too resistive. Because of this, looks as if the market will continue to be choppy and difficult to deal with overall. However, if we break above the $180 level, I’d be willing to buy this market as it should then go to the $200 level after that.
LiteCoin continues to look a bit soft as well, as we have broken below the $40 level. The $38 level underneath looks to be supportive though, and I think that support extends down to the $36 level. Given enough time, I would expect a bounce from this general vicinity, but right now the market does not look ready to do so. Because of this, I am on the sidelines.
Thanks for watching, I will see you again tomorrow.