Analysis

BTC/USD and BTC/JPY Technical Analysis November 9 2017

Christopher Lewis | November 9, 2017 | 6:48 am
btcusd
Analysis

BTC/USD and BTC/JPY Technical Analysis November 9 2017

Christopher Lewis | November 9, 2017 | 6:48 am

BTC/USD

Bitcoin rallied a bit during the day on Wednesday, using the $7000 level as support, bouncing towards the $7500 level. We are currently on path to make a fresh, new high, and every time that happens, it’s an obvious buy signal. I also believe that pullbacks will continue to be attractive, and that $7000 should now offer a bit of a new floor for the market.

BTC/JPY

Bitcoin also fell against the Japanese yen of the last couple of sessions, but has found the ¥800,000 level to be supportive enough to turn the thing around. It now looks as if the ¥800,000 level is the floor, and that a fresh, new high is another buying opportunity.

Thanks for watching, I’ll be back tomorrow.

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