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Hello and welcome to News BTC’s Market Outlook November.
DASH continues to go sideways, offering the $600 level as significant support. By doing so, it looks as if it’s only a matter of time before the buyers take advantage of the base that we have been building, and go higher. A break above the $650 level signifies that we are ready to continue the longer-term uptrend, and I believe that move is coming relatively soon.
Litecoin continues to rally, although in somewhat of a choppy manner. I believe that given enough time, we will reach towards $100, and currently I see the $82.50 level as the “floor.” Buying on the dips continues to be the best way to play this market, and adding slowly mitigates some of the potential troubles with going long in this type of environment. We are overextended, so the occasional pullback is not only necessary, but healthy.
Thanks for watching, I’ll be back tomorrow.