Hello and welcome to News BTC’s Market Outlook June 12.
ETH/USD
Ethereum markets continue to look very bullish, as we are reaching towards all-time highs. A break above the top of the range for the Friday session is yet another buying signal, and the market should continue to go towards the $270 level. I believe currently that we have a significant amount of support at the $240 level below, so pullbacks could offer value that the market should take advantage of.
ETH/BTC
Ethereum has done almost nothing against bit going over the last several sessions, but the one thing that I cannot help but notice is that we have a significant amount of support just below. Because of this, buying and holding onto this position is probably going to be the best way to go, as we should then go to the 0.11 level over the longer term. Beyond that, we should break out to the 0.12 level, and then go even higher. I have no interest in selling.
Thanks for watching, we’ll see you again tomorrow.