Hello and welcome to News BTC’s Market Outlook May 09.
Ethereum fell a bit during the Monday trading session as we reached towards the $90 handle. This is an area that should cause quite a bit of support though, and we did bounce from that level so I think we are currently accumulating position size in order to go towards the $100 level again. Buying short-term dips will more than likely offer decent trading opportunities. A break above the $100 level of course is very bullish.
Ethereum fell against Bitcoin, but continues to find support below. This time, it was the 0.055 level that saw a bit of buying pressure, as we gradually rise over time. I believe that buying dips continues to be the way going forward, but think of this more as an investment, and less as a trade. Going forward, I expect the market to reach too much higher levels.
Thanks for watching and see you again tomorrow.