THELOGICALINDIAN - Hello and acceptable to News BTCs Market Outlook October 16
ETH/USD
Ethereum rallied decidedly during the trading affair on Friday, extensive as aerial as $348. This atomic move is acutely overbought though, so at this point you appealing abundant charge to delay for pullbacks to aces up value. I see a cogent bulk of abutment abreast the $328 level, so that ability be an accomplished opportunity. I do not accept any absorption in affairs at this aerial level, because absolutely bluntly this blazon of drive cannot accumulate up forever.
ETH/BTC
Ethereum rallied adjoin Bitcoin, extensive the 0.062 akin afore affairs back. It looks like we are activity to try to breach out, but I would not be accommodating to buy this brace until we get aloft the 0.064 handle, which would appearance a cogent auto and momentum, and a smashing of resistance. In the meantime, it’s apparently best to comedy Ethereum adjoin the US dollar still.
Thanks for watching, I’ll be aback tomorrow.
