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Hello and welcome to News BTC’s Market Outlook September 6.
Ethereum rallied on Tuesday, recapturing some of the losses from the weekend. However, there seems to be a bit of resistance near the $310 level, so I would wait until we break above the $320 level to try to pick up a long position. Other crypto currencies look as if they could consolidate in current levels, and that makes sense, considering it had been such a brutal selloff. With this in mind, patience will be needed.
Ethereum rose slightly during the day on Tuesday against Bitcoin, and if we can break above the 0.075 level, the market could go higher. Until then, I would be a bit hesitant to start buying Ethereum against Bitcoin, as Bitcoin is most certainly the favored currency in normal conditions.
Thanks for watching, I’ll see you again tomorrow.