Hello and welcome to News BTC’s Market Outlook May 03.
DASH fell a bit during the session on Tuesday, gapping lower. We reached all the way down to the $84 level and I think we may have a little bit farther to go. The $82 level and most certainly the $80 level will offer support in my estimation, so I’m looking for some type of supportive candle in that area to start buying again. I have no interest in shorting, that money has already been made.
LiteCoin continues to bounce around just below the $17 level. Because of this, I am buying on short-term dips and looking to reach towards the $18 level, and then eventually the $20 level. I believe there is significant support down to at least the $15 level, as we consolidate after a sharp move higher. This is still a very bullish market, so therefore I believe that eventually the buyers will return.
Thanks for watching and see you again tomorrow.
Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment/trading advice. All the information is believed to come from reliable sources. NewsBTC does not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be liable for any loss incurred.