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News BTC Bitcoin Analysis December 5, 2017

newsbtc
newsbtc
1 year ago
1 min read

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News BTC Bitcoin Analysis December 5

 

BTC/USD

 

Bitcoin has been relatively volatile over the last couple of sessions, but continues to grind to the upside. We currently find ourselves near the $11,000 level, and it looks as if the 20 SMA is trying to offer support. I believe there is obvious support underneath at the $10,000 level, and therefore there should be quite a bit of buyers in that area. I think that we probably need to pull back a little bit, but that should end up being a buying opportunity.

BTC/JPY

 

Bitcoin has pulled back slightly against the Japanese yen early on Monday, but we are still very much in an uptrend, and I believe that the buyers are coming back to take advantage of this pullback. I believe that the ¥1.2 million level is essentially where the buyers will make their stand, and very obviously at the ¥1 million level.

Thanks for watching, I’ll be back tomorrow.

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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.

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