BTC/USD and BTC/JPY Technical Analysis July 17, 2017

Hello and welcome to News BTC’s Market Outlook July 17.


Bitcoin fell slightly on Friday, as we are testing the 2300 level currently. As things stand right now, I believe that we are finding quite a bit of support in the neighborhood of $2200 underneath, but do not have the momentum to go higher. I believe that this market has been overbought for some time, so this gentle pullback and malaise makes quite a bit of sense. With this, I believe that the buyers are slowly starting to return, but it may be several days before we see a pickup in momentum.


Bitcoin fell slightly against the Japanese yen as well, finding support near the ¥260,000 level. The market looks ready to bounce, but it may take a few days to pick up the momentum necessary. I believe that the ¥260,000 level will continue to act as support over the next couple of sessions.

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


Subscribe to our newsletter

Related Posts