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BTC/USD and BTC/JPY Technical Analysis July 6, 2017

newsbtc
newsbtc
1 year ago
1 min read
btcusd

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Hello and welcome to News BTC’s Market Outlook July 6.

BTC/USD

Bitcoin fell a bit during the Wednesday session, but continues to find support near the $2500 level. It looks as if the market is going to bounce from here though, and perhaps continue to grind towards the upside. I believe that the $2800 level is a target that traders will be looking for, so short-term buy on the dips type of strategies seem to be the best way to play this market.

BTC/JPY

Bitcoin fell a bit during the day on Wednesday against the Japanese yen as well, and it looks likely that we will continue to find buyers underneath. I believe that the market is reaching towards the ¥300,000 level, which is resistance. The market break above there should send this pair much higher, perhaps the ¥320,000 level, and then the ¥340,000 level.

Thank you for watching, we’ll see you again tomorrow.

 

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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