BTC/USD and BTC/JPY Technical Analysis November 9 2017




btcusd

BTC/USD

Bitcoin rallied a bit during the day on Wednesday, using the $7000 level as support, bouncing towards the $7500 level. We are currently on path to make a fresh, new high, and every time that happens, it’s an obvious buy signal. I also believe that pullbacks will continue to be attractive, and that $7000 should now offer a bit of a new floor for the market.

BTC/JPY

Bitcoin also fell against the Japanese yen of the last couple of sessions, but has found the ¥800,000 level to be supportive enough to turn the thing around. It now looks as if the ¥800,000 level is the floor, and that a fresh, new high is another buying opportunity.

Thanks for watching, I’ll be back 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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