BTC/USD and BTC/JPY Technical Analysis November 3 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.

BTC/USD

Bitcoin rallied a bit after initially dropping on Thursday, showing signs of continuing the explosive move higher, as we have now exited the up-trending channel and look to be a bit overbought. I think that short-term pullback should continue to be buying opportunities, as the $6800 level should offer support. I would love to see some type a pullback though, in order to pick up value.

BTC/JPY

Bitcoin has also reached my target against the Japanese yen, reaching towards the ¥820,000 level. Now that we reach this area and formed a massive shooting star and the 4-hour chart, I think that it is only a matter of time before a pullback. I am more than willing to buy that pullback when it happens. The ¥700,000 level should be the floor in the uptrend going forward.

Thanks for watching, I’ll be back on Monday.

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.