Hello and welcome to News BTC’s Market Outlook September 26.
Bitcoin rallied a bit during the session on Monday, as we continue to go back and forth. The $3800 level offered a bit of resistance, but I think that eventually we will break above it. Given enough time, we should go looking for the $4000 level, but currently I think that we are consolidating, and an attempt to build up momentum.
Bitcoin also rallied against the Japanese yen, but finds a significant amount of resistance at the ¥425,000 level. A break above the ¥430,000 level would be very bullish, perhaps sending the market towards the ¥450,000 level. In the meantime, look at short-term pullbacks as buying opportunities in a market that has been bullish longer-term, but as of late has suffered a bit.
Thanks for watching, I’ll be back tomorrow.