Bitcoin was reasonably quiet during the trading session on Wednesday, as we continue to bounce around near the $17,000 level. It looks as if we are trying to build up enough momentum to continue to go higher, so with this being the case adding slowly might be the best way to deal with this market, as it looks like we are in a bit of a holding pattern.
Bitcoin has gone sideways against the Japanese yen as well, as it looks like the markets are waiting to see where we go next. I think being patient will be paramount, but on a break above the ¥2 million level it’s likely that we will continue to go towards the ¥2.3 million level.
Thanks for watching, I will be back tomorrow.