ETH/USD and ETH/BTC Technical Analysis October 6 2017

Hello and welcome to News BTC’s Market Outlook October 6.[embedded content]


Ethereum fell initially on Thursday but found enough support near the $286 level to turn around and reach towards the $295 level. This is a very supportive move, and I think it’s only a matter of time before we break towards the $300 level, and then beyond that to the upside. I don’t have any interest in shorting, I believe that there is plenty of support to go forward.


Ethereum initially went sideways on Thursday, but then fell against Bitcoin to reach towards the 0.068 level. There is a bit of support here, so I would anticipate that we should see a little bit of a bounce, but Bitcoin has taken off to the upside against other currencies during the day, so I suspect that any rally at this point will be somewhat muted.

Thanks for watching, see you again on Monday.

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.

Source: Newsbtc