BTC/USD and BTC/JPY Technical Analysis Aug 17, 2017

Hello and welcome to News BTC’s Market Outlook Aug 17.


Bitcoin went sideways during the session on Wednesday, as the 4000 level continues to offer support. I believe that the market needs to gather its wits for a while, and I think that we will have a reasonably quiet move next. However, the Federal Reserve releases its meeting minutes, and that could cause a bit of volatility in the US dollar itself. Ultimately, I expect to see massive support near the $3800 level as well.


BTC/JPY did very little during the day on Wednesday, as we continue to grind sideways overhears well. I believe that the market needs to catch his breath, but a break above the ¥470,000 level would be a signal to start buying again as we could go back to ¥500,000 after that. Currently, the ¥440,000 level looks to be massively supportive.

Thanks for watching, I’ll see you again tomorrow


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