Hello and welcome to News BTC’s Market Outlook April 27.
Bitcoin rallied against the US dollar during the Wednesday session, reaching towards the $1385 level. Currently, it appears that every time this market pulls back on a short-term chart, buyers are coming back into the marketplace to continue to push to the upside. Expect an attempt to reach the $1400 level over the next several sessions.
Bitcoin rallied against the Japanese yen as well, reaching the ¥154,000 level. At this point, ¥155,000 is all but assured. That is the psychologically significant number, so we could get a pullback from there. However, that should only offer value the traders will start buying. We have finally made a fresh, new high, so it should signify that we are going to go much higher. I expect the ¥150,000 level to now act as a floor in the market.
Thanks for watching and see you again tomorrow.