Hello and welcome to News BTC’s Market Outlook May 30.
ETH/USD
Ethereum initially fell on Monday, but found enough buyers near the $155 level to turn things around and go looking towards the $170 level. On a break above the $172 level, it looks as if the market will be free to go looking towards $200 again. We are obviously in an uptrend, so shorting is all but impossible.
ETH/BTC
Ethereum also fell against Bitcoin at the beginning of the session, but also found support and an of bullish pressure to continue to move higher. It looks as if the market is going to continue to grind its way to the upside, but it will be volatile. Because of this, a certain amount of patience and wherewithal will be needed to hang on to the bullish trade, but certainly shorting is all but impossible proposition.
Thanks for watching and see you again tomorrow.