BTC/USD and BTC/JPY Technical Analysis July 19, 2017

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Hello and welcome to News BTC’s Market Outlook July 19.

BTC/USD

Bitcoin initially fell during the session on Tuesday, but found enough support below the 2200 level to turn around and continue to go even higher. We are facing a significant amount of resistance in the form of the $2400 level though, so clearing that could open the door to the $2600 level. Because of this, if you did not take our advice at the $2000 level, you may be chasing the trade if you try to get in here.

BTC/JPY

Bitcoin fell initially during the session on Tuesday, but found support at the ¥240,000 level. The market then broke above the ¥260,000 level, which is a very bullish sign. However, there is quite a bit of resistance just above the ¥280,000 level, so to continue going higher we will probably have to pull back a little bit to build up momentum.

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