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BTC/USD and ETH/USD Forecast April 19, 2017

Hello and welcome to News BTC’s Market Outlook April 19.

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BTC/USD

Bitcoin has been relatively choppy over the last 24 hours, but certainly has a bit of an upward bias. When you look at the 4-hour chart, you can see a couple of hammers, which of course suggests that buyers are coming in every time the market dips. It now looks as if a breakout is imminent. Buying on dips and of course a move higher E is the best play.

ETH/USD

By contrast, Ethereum continues to struggle near the $52 level. However, a pullback of this point is more than likely going to be a bit of a momentum building exercise. Given enough time, I still anticipate that this market breaks out but clearly at the moment, Bitcoin is the better market to be trading. Expect to see significant support at the $49 level.

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.

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