ETH/USD and ETH/BTC Technical Analysis September 15 2017

Hello and welcome to News BTC’s Market Outlook September 15.

ETH/USD

The Ethereum market fell significantly on Thursday, reaching towards the $230 level as the Chinese are cracking down on crypto currency exchanges. This of course has sent a shudder of fear through the marketplace, and through all crypto currencies. Ethereum seems to be finding a little bit of support at $230 level, but I see resistance above at the $260 level. If we find signs of exhaustion in that area, I’m more than willing to start shorting. I am not a buyer until we break above the $280 level.

ETH/BTC

Ethereum fell significantly during the day on Thursday as well, breaking down to the 0.067 level. We bounce from there, but there is a significant amount of noise above, and I think it’s only a matter of time before we start selling again. I have no interest in buying this market, and quite frankly I think that the market has turned extraordinarily bearish.

Thanks for watching, I’ll be back 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.

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