Hello and welcome to News BTC’s Market Outlook April 18.
Bitcoin traders were relatively quiet during the Monday session, but we continue to hovered just above the $1200 level, a psychologically important figure. Because of the slight bounce later in the day, it appears that the buyers are still very much in control but taking a bit of a break. A break above the $1220 level should send the market looking for the $1250 level, and then possibly higher than that.
Ethereum traders had a quiet session on Monday as we continue to hover just above the $49 level. I still believe that the uptrend is the only trend to follow, so he moved towards the $54 level is what I am expecting over the next several sessions. Pullbacks should continue to offer value in a market that most certainly has a lot of bullish pressure underneath it. Both cryptocurrencies currently look as if they are simply consolidating to build up momentum to go higher.
Thank you for watching and see you again.