Hello and welcome to News BTC’s Market Outlook May 25.
ETH/USD
Ethereum has broken higher during the session on Wednesday, making a fresh, new high and more importantly: breaking above the top of the shooting star from the Monday session. That’s a very bullish sign and it now looks as if we are heading towards the $200 level, and possibly beyond. Pullbacks should be buying opportunities as there should be plenty of support just below. With this being the case, I’m looking at buying dips going forward.
ETH/BTC
Ethereum also has rallied against Bitcoin, and looks to break out and reach towards the 0.10 level above. The 0.70 level below should be supportive, just as the 0.06 level will be. A supportive candle under there is a buying opportunity, and I think that it’s only a matter of time before the market breaks out significantly as Ethereum has been so strong against other currencies.
Thanks for watching and see you again tomorrow.