Hello and welcome to News BTC’s Market Outlook May 11.
DASH/USD
DASH rallied just a bit during the session on Wednesday, using the $90 level as support. It appears that the market will continue to try to reach to higher levels, but $90 should hold as support in order to feel comfortable buying. Nonetheless, it does not look like a market that you can sell anytime soon.
LTC/USD
LiteCoin continues to look very impressive, as we initially fell during the session on Wednesday, but then found plenty of support at the $30 level to turn things around. This is the second day in a row this is happened, and now we find ourselves testing the $38 level. The market is parabolic, but every time we pull back that will only strengthen resolve and build confidence for the bullish trader. Selling is not an option.
Thanks for watching and see you again tomorrow.