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BTC/USD and BTC/JPY Technical Analysis July 11, 2017

newsbtc
newsbtc
1 year ago
1 min read
btcusd

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Hello and welcome to News BTC’s Market Outlook July 11.

BTC/USD

Bitcoin fell a bit during the Monday session, in rather quiet trading. It appears that the $2400 level continues to offer support, but we are starting to form an descending triangle, which is a bearish signal. It’s likely that we may try to break down below the $2400 level, and go looking for lower levels. If that’s the case, I suspect that the next major support level is $2200, followed by $2000.

BTC/JPY

Bitcoin also fell against the Japanese yen as you would expect, and it now looks like we are going to go looking towards the ¥280,000 level for buyers. If the market breaks below there, I believe that we will then go to the ¥260,000 level. The ¥300,000 level just above continues to offer significant resistance.

Thanks for watching, we’ll see you again 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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