Hello and welcome to News BTC’s Market Outlook April 26.
Bitcoin rallied against the US dollar, touching the $1360 level during the session on Tuesday, as we continue to see bullish pressure mount. It appears that buying on the dips is still a viable strategy, and it now looks as if the $1400 level is in sight over the next couple of sessions or so. Massive support should be seen at the $1350 level, and therefore that keeps this a “buy only” market.
Unlike the BTC/USD pair, BTC/JPY has not broken out to a fresh, new high. However, we have broken above the psychologically important ¥150,000 level, and it is more than likely only a matter of time before we do make a fresh, new high. Pullbacks should be supported down to the ¥145,000 level, so much like the other pair, this is most certainly a “buy on the dips” type of situation.
Thanks for watching and see you again tomorrow.