Hello and welcome to News BTC’s Market Outlook November.
Ethereum continues to go sideways against the US dollar, hovering above the $460 level. I think that Ethereum is essentially waiting for Bitcoin to break above the $10,000 level to feel confident enough to make a serious go at the $500 level. Pullbacks should continue to be buying opportunities, but a breakdown below the $440 level could send this market as low as $400 after that.
The Ethereum markets fell against Bitcoin, as Bitcoin looks likely to be the first of the 2 currencies to break out. Because of this, it’s likely that the market will continue to go a little bit lower here, perhaps reaching down to the 0.045 level underneath which should be the beginning of support. In general, I believe that this market is probably best left alone in the short term.
Thanks for watching, be back 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.
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