BTC/USD and BTC/JPY Technical Analysis September 7 2017

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Hello and welcome to News BTC’s Market Outlook September 7.

BTC/USD

Bitcoin initially fell against the US dollar on Wednesday, but found support near the $4350 level. By doing so, we bounced towards the $4600 level, and a clearance above there should send this market higher again. I don’t have any interest in shorting, at least not anytime soon, as it appears that the buyers have returned of this market yet again after that shock that Chinese government official sent through the crypto currency world.

BTC/JPY

Bitcoin found itself above ¥500,000 again during the session on Wednesday, and it now looks as if will go looking to reach the ¥525,000 level. A breakdown below the ¥490,000 level would be negative, and in the meantime, I think that there is going to be a significant amount of back-and-forth trading in this general vicinity.

Thanks for watching, I’ll be back tomorrow.