Analysis

BTC/USD and BTC/JPY Technical Analysis November 15 2017

Christopher Lewis | November 15, 2017 | 6:48 am
btcusd
Analysis

BTC/USD and BTC/JPY Technical Analysis November 15 2017

Christopher Lewis | November 15, 2017 | 6:48 am

Hello and welcome to News BTC’s Market Outlook November.

BTC/USD

Bitcoin has been relatively quiet during the Tuesday session, as we continue to hover just above the 6500 level. The market looks likely to find a bit of support in this area, but with the stochastic oscillator crossing at the 80 level, I am a bit hesitant in the short term. I need to see a break above the 6800 level to start buying, which at that point I think 7000 becomes the next resistance barrier. Otherwise, a pullback from here should have people interested again near the 6200 level.

BTC/JPY

Bitcoin also rolled over a little bit against the Japanese yen, as we are oversold in the stochastic oscillator also. I think that ¥700,000 makes more sense for the buyers to return, as we are trying to build up a bit of confidence. ¥725,000 is also an area where we could find buyers, so any type of bounce in that region could be an opportunity to go long as well.

Thanks for watching, I’ll be back tomorrow.

Tags: , ,

NewsBTC is a news service that covers bitcoin news, technical analysis & forecasts for bitcoin and other altcoins. Here at NewsBTC, we are dedicated to enlightening people all around the world about bitcoin and other cryptocurrencies. We cover news related to bitcoin exchanges, bitcoin mining and price forecasts for various virtual currencies.

Get the app

Featuring live charts, price analysis, breaking news, currency converter and more. The only bitcoin app you need!

Google play logo

We use cookies to give you the best online experience. By agreeing you accept the use of cookies in accordance with our cookie policy.