Hello and welcome to News BTC’s Market Outlook September 7.
Ethereum initially dipped during the day on Wednesday, but found enough support at $320 to turn around and rally again. However, we are in an area that has previously been supportive, so it should now be resistive. With this in mind, I am not a buyer at these levels. I believe that a break above the $350 level would be what we need to see, or perhaps a pullback to show signs of support, perhaps near the $310 level.
Ethereum went sideways on Wednesday, as we struggle with the 0.075 level against Bitcoin. I believe that the sellers are probably going to come back relatively soon, so therefore I am not looking to buy this market. In fact, I anticipate that we will probably try to roll over rather soon.
Thanks for watching, all be back tomorrow.