Hello and welcome to News BTC’s Market Outlook September 8.
ETH/USD
Ethereum initially dropped on Thursday, but found plenty of support at the $320 level. By doing so, we bounced and it now looks like we will go looking towards the $340 level next. A break above there clears the way for the $350 level, and then $370. This is still a “buy the dips” market, as crypto currencies have regained a significant amount of footing over the last couple of sessions.
ETH/BTC
Ethereum fell against Bitcoin, but that’s no surprise considering how well Bitcoin has reacted to the recent turmoil. It looks like the market will probably go looking for the 0.07 level for support, and quite frankly I don’t refer Ethereum over Bitcoin anyway. We are in a downtrend, and should continue to slide overall.
Thanks for watching, I’ll be back tomorrow.