Hello and welcome to News BTC’s Market Outlook July 14.
ETH/USD
Ethereum pulled back during the day on Thursday, as we tested the $200 level. I think there is plenty of support just below though, so given enough time I anticipate that this market will rally and try to go higher. If we break down below the $160 level, we would continue the move lower even more stringently, but in the meantime, it looks as if we are trying to form some type of bottom.
ETH/BTC
Ethereum fell slightly during the day on Thursday as well, and it looks as if we are going to go back towards the 0.08 level to look for more support. Either way, I think we’re trying to form a bit of a bottle, and I believe that Ethereum will continue to rally against Bitcoin. We could be volatile, but it looks as if we are trying to form enough support to continue the longer-term uptrend.
Thanks for watching, all see you again tomorrow.