BTC/USD and ETH/USD Forecast April 4, 2017

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Hello and welcome to News BTC’s market Outlook for April 4.

BTC/USD

Bitcoin has been very quiet over the evening, as the resistance level near $1150 continues to cause issues. Because of this, a slight pullback is very likely, but that should only find support near the $1100 level as we continue to drive higher overall. The recent breakout has seen real strength in a reasonable amount of volume, so there’s no reason to think that any turnaround here is worth chasing.

ETH/USD

Ethereum initially fell during the session, but continues to find plenty of support near the $40 handle. By bouncing in this manner, it looks as if the buyers are coming back, and a break above $45 could send this market to the $50 level rather quickly. Alternately, a breakdown below the $40 level will more than likely send this market looking for support at lower levels, with the initial place being the $38 handle.

Thank you for watching and see you again tomorrow.

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