Hello and welcome to News BTC’s Market Outlook October 12.
DASH continues to chop around the $290 level on Wednesday, as we look to build some type of base in this area. If we can break above the $300 level, then the buyers will jump in and continue to push much higher. In the meantime, I think dips to offer buying opportunities, but quite frankly I believe that this market could be best traded by those looking for longer-term investments rather than short-term gains.
Litecoin went sideways during the session on Wednesday, as we continue to hang about the $50 level. I think that the market will eventually go higher, and that this is a sign that the market is trying to form some type of base. Ultimately, if we can break above the $51.50 level, the market could go towards the $55 level next. The market breaking below the $49.50 level would be a very negative sign, reaching down towards the $48 level underneath. Ultimately, this is a market that I think goes higher, but we need to build up the necessary momentum to go to the upside.
Thank you for watching, be back tomorrow.