Hello and welcome to News BTC’s Market Outlook Aug 30.
ETH/USD
Ethereum rallied a bit during the day yet again on Tuesday, as the market has decidedly been anti-US dollar. This being the case, I think Ethereum can continue to go much higher, and I believe that the “floor” is closer to the $335 level, if not the $350 level. Buying on dips continues to be the best way to play this market.
ETH/BTC
Alternately, Ethereum is getting absolutely hammered against Bitcoin, which seems to be the clear winner in the crypto currency world currently. This being the case, I think were to go looking for support near the 0.07 level underneath, but I would be very cautious about buying. Quite frankly, if you’re going to buy Ethereum, go against the US dollar.
Thanks for watching, we’ll see you again tomorrow.