DASH/USD and LTC/USD Technical Analysis May 02, 2017


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Hello and welcome to News BTC’s Market Outlook May 02.[embedded content]

DASH/USD

DASH rallied again during the session on Monday, reaching the $96 level. It now looks as if we are going to consolidate between the $90 level on the bottom, and perhaps somewhere near $94 as we have seen the markets struggle to stay above there. With this, looking at short-term charts that have pullbacks offering support is probably the best way to trade DASH. I don’t have any interest in shorting, but I do recognize that if we break down below the bottom of the range for the Monday session, the market could find itself falling to the $82 level rather quickly.

LTC/USD

LiteCoin rallied again during the Monday session, and at one point even made a fresh, new high. This shows that the market is trying to break out, and the fact that we get above the shooting star from the Friday session is a very positive sign. I suspect that it’s only a matter of time before we break out for good, and short-term pullbacks offer value. A break above the top of the candle for the session on Monday is also a buying opportunity, and I don’t have any interest in selling the LTC/USD market.

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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247 BTC

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