Hello and welcome to News BTC’s Market Outlook July 25.
Bitcoin initially fell against the US dollar and early Monday trading, but turned around to show signs of resiliency yet again. It appears that we are currently consolidating, but the market looks very likely to continue to grind its way towards the $3000 level. Pullbacks on short-term charts should continue to offer buying opportunities throughout the day.
Bitcoin initially dropped on Monday against the Japanese yen as well, but it seems to be getting support near the ¥300,000 handle. Because of this, it’s very likely that short-term dips will continue to offer short-term buying opportunities. It looks as if the ¥320,000 level is resistance, so break above there would be significantly bullish.
Thanks for watching, we’ll see you again tomorrow.