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BTC/USD and BTC/JPY Technical Analysis November 23 2017

Avatar newsbtc 2 years ago

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

BTC/USD

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Bitcoin fell slightly against the US dollar after initially trying to rally on Wednesday in what could probably be best described as listless trading. The $8000 level below should be psychologically supportive though, so I expect that this is going to continue to be a “buy on the dips” market, as we are accumulating more momentum for the next move higher.

BTC/JPY

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Bitcoin continues to grind higher against the Japanese yen, although we did stall a bit during the trading session on Wednesday. It looks as if we are trying to form an ascending triangle, so I suspect that the buyers are going to come back in relatively soon. Either way, I think it’s almost a foregone conclusion that BTC rises to ¥1 million at this point.

Thanks for watching, I’ll see you again tomorrow.

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