Hello and welcome to News BTC’s Market Outlook Aug 23.
ETH/USD
Ethereum fell precipitously during the day on Tuesday, reaching towards the $284 level underneath. We bounced enough to break above the $300 level again, and it now looks likely that the buyers might be interested in this market. However, it’s going to be very choppy, but overall, we are still in an uptrend even with the massive selloff.
ETH/BTC
Ethereum fell against Bitcoin, testing the 0.078 level, finding support there. I think that there is probably even more support at the 0.0750 level underneath, and that looks likely to be where we find significant buying pressure. Buying on dips continues to work in this market, and that’s exactly how I’m going to approach it.
Thanks for watching, all see you again tomorrow.