BTC/USD and BTC/JPY Technical Analysis September 6 2017

newsbtc

Last Updated: June 11, 2024 1:22 pm

1 min read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Hello and welcome to News BTC’s Market Outlook September 6.

BTC/USD

Bitcoin rallied during the day on Tuesday, reaching towards the $4400 level again. However, this area does look to be somewhat resistive, so I would be hesitant to buy until we clear the $4500 level. In the meantime, looks like we could consolidate, and if that’s the case, we may be dropping down to the $4000 level.

BTC/JPY

Bitcoin also rallied against the Japanese yen after initially falling, but has found a bit of trouble near the ¥500,000 level. We need to clear that area in order to continue to go higher with any type of reliability, so it’s not until we clear the ¥500,000 level that I would consider buying. Currently, it looks as if the market may pull back, perhaps reaching towards the ¥450,000 level in consolidation.

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

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.