Analysis

BTC/USD and BTC/JPY Technical Analysis May 18, 2017

Christopher Lewis | May 18, 2017 | 8:11 am
btcusd
Analysis

BTC/USD and BTC/JPY Technical Analysis May 18, 2017

Christopher Lewis | May 18, 2017 | 8:11 am

Hello and welcome to News BTC’s Market Outlook May 18.

BTC/USD

Bitcoin continues to rally as Wednesday was very profitable. The market broke above the $1800 level, and it now looks as if we’re going to test the highs again. Because of this, short-term dips continue to offer buying opportunities and what is a very strong uptrend. A break above the $1900 level almost certainly sets the stage for $2000.

BTC/JPY

Bitcoin also rallied against the Japanese yen, making a fresh, new high. Because of this, looks as if the market will continue to go much higher as the consolidation is over and we are now free to go even higher. Pullbacks continue to be value that should be taken advantage of, as Bitcoin seems to be on a bit of a roll now. The ¥210,000 level should be supportive going forward.

Thanks for watching and see you again tomorrow.

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