Hello and welcome to News BTC’s Market Outlook October 4.
ETH/USD
Ethereum fell on Tuesday, finding support near the $287.50 level. I think eventually the market will rally significantly, perhaps reaching towards the $305 level. However, currently it looks as if we are trying to build up a bit of a base, so although I am bullish, I recognize that we may get a bit of choppiness in the short term.
ETH/BTC
Ethereum has been very volatile against Bitcoin during the session on Tuesday, showing the 0.069 level as resistance, and the 0.067 level underneath as support. As the market continues sideways, I suspect that the market will probably do almost nothing as we try to build up a bit of a base for a longer-term move to the upside. However, I still prefer Bitcoin overall when it comes to this market.
Thanks for watching, I’ll be back tomorrow.