Hello and welcome to News BTC’s Market Outlook October 10.
BTC/USD
Bitcoin initially pulled back during the session on Monday, but found enough support near the $4550 level to turn around and bounce. If we can break above the high of the day, the market should continue to go looking towards the $4650 level next. This is a market that continues to see plenty of bullish pressure and dips continue to offer value. More of the same should be expected as the uptrend continues.
BTC/JPY
Bitcoin pulled back on Monday, but found enough support near the ¥508,000 level to turn around and bounce. The market should continue to go much higher, we have seen a nice impulsive move to the upside, and with that being the case it’s likely that Bitcoin will continue to strengthen against the Japanese yen. The ¥500,000 level underneath should be support, and perhaps a “floor” in the move.
Thanks for watching, I’ll be back tomorrow.