Hello and welcome to News BTC’s Market Outlook June 5.
DASH continues to look very bullish, but also struggles at the $148 level. Because of this, I think we are likely to see a pullback that should offer a nice bit of value underneath. I would be especially interested in buying this pair at the $120 level, but also recognize that a break above the $150 level would continue the massive bullish pressure that we have seen. Ultimately, the market should continue be one that buyers will be attracted to.
LiteCoin continues to grind back and forth, and the $28 level on Friday offered resistance. It looks as if we are trying to build up a little bit of a base in this area XO pullbacks offer value, and I would be especially interested near the $22 level. If we can break above the $30 level, the market will more than likely continue to go much higher, perhaps reaching as high as $40 over the next several sessions. Expect volatility, but I still believe in the upward bias longer term.
Thank you for watching and see you again tomorrow.