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ETH/USD and ETH/BTC Technical Analysis September 15 2017

Avatar newsbtc 2 years ago

Hello and welcome to News BTC’s Market Outlook September 15.

ETH/USD

The Ethereum market fell significantly on Thursday, reaching towards the $230 level as the Chinese are cracking down on crypto currency exchanges. This of course has sent a shudder of fear through the marketplace, and through all crypto currencies. Ethereum seems to be finding a little bit of support at $230 level, but I see resistance above at the $260 level. If we find signs of exhaustion in that area, I’m more than willing to start shorting. I am not a buyer until we break above the $280 level.

ETH/BTC

Ethereum fell significantly during the day on Thursday as well, breaking down to the 0.067 level. We bounce from there, but there is a significant amount of noise above, and I think it’s only a matter of time before we start selling again. I have no interest in buying this market, and quite frankly I think that the market has turned extraordinarily bearish.

Thanks for watching, I’ll be back on Monday.

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