Hello and welcome to News BTC’s Market Outlook May 09.
DASH/USD
The DASH markets continue to show quite a bit of volatility, as we initially gapped higher at the open on Monday, but found the $104 level to be far too resistive. We ended up falling to the $96 level, but found buyers in that area. I believe overall that buying on the dips is the only way to trade this market and you will simply have to deal with the volatility going forward as we most certainly have a bullish run, but have a lot of noise as well.
LTC/USD
LiteCoin continues to look very bullish, as although we fell initially during the trading session, we found enough support at the $28 level to turn things around and form a hammer. The hammer of course is a very bullish sign and suggests that the $30 level is not going to offer a bit of support. With that being the case, we continue to think that buying on the dips is the proper strategy.
Thanks for watching and see you again tomorrow.