Hello and welcome to News BTC’s Market Outlook April 19.
BTC/USD
Bitcoin has been relatively choppy over the last 24 hours, but certainly has a bit of an upward bias. When you look at the 4-hour chart, you can see a couple of hammers, which of course suggests that buyers are coming in every time the market dips. It now looks as if a breakout is imminent. Buying on dips and of course a move higher E is the best play.
ETH/USD
By contrast, Ethereum continues to struggle near the $52 level. However, a pullback of this point is more than likely going to be a bit of a momentum building exercise. Given enough time, I still anticipate that this market breaks out but clearly at the moment, Bitcoin is the better market to be trading. Expect to see significant support at the $49 level.
Thanks for watching and see you again tomorrow.