Hello and welcome to News BTC’s Market Outlook July 28.
Bitcoin had a slightly positive session on Thursday, as we continue to try to find our footing in this market. A break above the $2600 level should send this market looking towards the $2800 level. Above there, there is still a significant amount of resistance, but ultimately, it’s not until we break above the 3000 level that the longer-term buy-and-hold type of traitor will come back in.
Bitcoin rallied a bit during the day, bouncing off the ¥280,000 level. It looks as if the market will go towards the ¥300,000 level above, and then go reaching towards the ¥320,000 level. Because of this, I believe that the buyers will continue to be active, as we are trying to build up a bit of a floor in this market. Longer-term, I believe that we break above the ¥320,000 level and continue to go much higher.
Thanks for watching, we’ll see you again tomorrow