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