Hello and welcome to News BTC’s Market Outlook Aug 3.
The Ethereum market fell slightly during the day on Wednesday, as the $235 level offered a bit of resistance. This looks like a market that is going to go looking for support underneath, and should find it near the $200 level. Because of this, pull backs should continue to offer buying opportunities during the day.
Ethereum also fell against Bitcoin during the day, as it looks like we are set to start consolidating again. I think the 0.07 level should be supportive, and therefore I’m looking to buy this market somewhere near there on a bounce or a supportive candle. Alternately, if we break down below there I would expect to see support at the 0.06 handle.
Thanks for watching, I’ll see you again tomorrow.