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

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

BTC/USD

Bitcoin rallied on Monday, bouncing from the 50% Fibonacci retracement level in the neighborhood of 2000. Because of this, looks as if the buyers are trying to return, and a break above the highs from the session should send this market even higher. However, there is a lot of noise above, and therefore volatility should remain high.

BTC/JPY

Bitcoin bounce from the ¥220,000 level, reaching towards the ¥240,000 level. A break above there sends this market looking for the ¥260,000 region. Pullbacks continue to offer support, and as long as we can stay above the ¥200,000 level, I think that we are trying to form some type of support.

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