Hello and welcome to News BTC’s Market Outlook July 13.
Ethereum fell a bit during the day at the open on Wednesday, but found enough support at the $180 level to turn around and reach towards the $200 level. Quite frankly, if we break above the $220 level, it could be a buying opportunity, but until then, I would be very hesitant to put money to work in a market that looks very broken.
The ETH/BTC pair fell initially during Wednesday, but found the 0.08 level supportive enough to turn the market around. If we can break above the 0.09 level, the market should then go to the 0.10 handle after that. Otherwise, there is massive support just below, so although I’m not in a rush to buy this pair, I don’t think selling is the right thing to do as you will be “chasing the trade.”
Thanks for watching, we’ll see you again tomorrow.