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BTC/USD and BTC/JPY Technical Analysis November 22 2017

Avatar newsbtc 2 years ago

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

BTC/USD

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Bitcoin remains volatile, as we have cleared the 8200 level now. It looks as if we are going to continue to find a “buy on the dips” mentality, and therefore selling is all but impossible to do at this point, as Bitcoin seems hell-bent on going to the $10,000 level. Overall, there should be a “hard floor” at the $7800 level now.

BTC/JPY

 

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Bitcoin fell rather sharply against the Japanese yen initially during the trading session, but found enough support near the ¥900,000 level to bounce significantly and go looking towards the highs again. At this point, I suspect that it’s a given that we are going to go looking towards the ¥1 million level. There is a massive psychological significance to that level, so don’t be surprised if we pull back once we reach it.

Thinks for watching, I’ll be back tomorrow.

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