Hello and welcome to News BTC’s Market Outlook Aug 1.
Bitcoin fell initially on Monday but found enough support underneath the turn around and form a hammer like candle as I record this video. It looks as if we are going to try to break above the $2800 level, and then eventually go looking towards $2900. Pullbacks on short-term charts should continue to offer value the traders are willing to take advantage of.
Bitcoin rallied against the Japanese yen, as we continue to press the ¥320,000 level. A break above that level would be a very bullish sign, and could send this market much higher, with the first target being ¥340,000. I have no interest in shorting this market, pullback should continue to offer opportunities to take advantage of value.
Thanks for watching, we’ll see you again tomorrow.