Hello and welcome to News BTC’s Market Outlook October 16.
DASH rally during the day on Friday, reaching towards the $316 level. We found a bit of resistance there though, and then pulled back towards the $300 level. I think there’s plenty of support there, extending down to the $280 level below. Because of this, I think in the fact that the Bitcoin markets have rallied so significantly, DASH should continue to see plenty of bullish pressure, and reach towards the $325 level over the next couple of sessions.
Litecoin fell initially during the day on Friday, reaching down to the $55 level. The market found plenty of buying pressure in that general vicinity, and it looks likely that we are going to continue to reach much higher as we bounced towards the $60 handle. A break above there should send this market towards the $65 level next. We are in an obvious uptrend, and I’m not willing to fight it. Pullbacks continue to offer buying opportunities.
Thanks for watching, I’ll be back tomorrow.