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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

ETH/USD and ETH/BTC Technical Analysis October 13 2017

newsbtc
newsbtc
1 year ago
1 min read
ethusd

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Hello and welcome to News BTC’s Market Outlook October 13.

ETH/USD

Ethereum rallied during the day on Thursday, reaching towards the $308 level, but then pulled back towards the $302 level to find support. The 20 SMA has offered support, and it looks as if we are going to continue to grind towards the $314 level above. I believe the pullbacks continue to offer value, and I also believe that if we can break above the $315 level, the market will then reach towards the $325 level. I have no interest in shorting Ethereum.

ETH/BTC

Ethereum fell during the day on Thursday, breaking down towards the 0.059 level against Bitcoin. This is a market that is probably going to continue to favor Bitcoin, as we have seen such a massive breakout in the BTC/USD pair. Ultimately, this is a market that continues to see a lot of volatility, and therefore think that the market should continue to see short-term opportunities, but mainly to the downside. Nonetheless, I prefer to buy the ETH/USD pair rather than short this one.

Thanks for watching, I’ll be back tomorrow.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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