BTC/USD and BTC/JPY Technical Analysis November 29 2017




btcusd

Hello and welcome to News BTC’s Market Outlook November.

BTC/USD

btcusd

Bitcoin fell a bit after initially trying to rally on Tuesday, as we continue to meander around the $9800 level. I believe it is only a matter of time before the market tests the $10,000 level, and I suspect that almost everybody else in the market thinks this as well. The question becomes how long will it take to break above $10,000 handily? I suspect that we are about to see a lot of volatility, but short-term pullbacks should continue to offer buying opportunities, especially near the $9750 level.

BTC/JPY

btcjpy

Bitcoin rallied against the Japanese yen, and has already broken through the psychologically important ¥1 million level. It is because of this that Bitcoin continues to flex its muscles against the Japanese yen, and I think we will continue to see buyers come in on dips. The ¥1 million level now has become the floor in the market, and it looks likely that we will go looking towards the ¥1.16 million level next.

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.

SUBSCRIBE TO OUR NEWSLETTER