Hello and welcome to News BTC’s Market Outlook Aug 17.
ETH/USD
Ethereum exploded to the upside during the session on Wednesday, breaking above the $300 level. By doing so, we have cleared a bit of a psychological hurdle and it now looks as if pullbacks could offer nice buying opportunities. A break above the $305 level would be extraordinarily bullish, and should send this market even higher.
ETH/BTC
Ethereum didn’t fare so well against Bitcoin though, as the 0.74 level offered a significant amount of bearish pressure. It now looks as if the market is probably going to continue to grind sideways overall with a slightly upward bias. Ultimately, I prefer to buy Ethereum against the US dollar over the ETH/BTC pair.
Thank you for watching, I’ll see you again tomorrow.
Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment/trading advice. All the information is believed to come from reliable sources. NewsBTC does not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be liable for any loss incurred.