ETH/USD and ETH/BTC Technical Analysis June 6, 2017

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Hello and welcome to News BTC’s Market Outlook June 6.

ETH/USD

Ethereum initially fell on Monday, but turned around at the $230 level to form a bit of a hammer. It looks as if the bullish momentum continues to go higher, and therefore dips continue to be buying opportunities. We believe that the $200 level is going to serve as a bit of a “floor” in the current uptrend. Having said that, be aware that we are most certainly overbought at this point.

ETH/BTC

Ethereum fell slightly against Bitcoin, but obviously is still very bullish. The 0.085000 level just below should offer support, and therefore supportive candles or bounces from that general vicinity will more than likely be looked at as buying opportunities in what appears to be a one-way trade currently.

They for watching, I’ll see you tomorrow.