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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
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Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

BTC/USD and BTC/JPY Technical Analysis October 13 2017

newsbtc
newsbtc
1 year ago
1 min read
btcusd

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Hello and welcome to News BTC’s Market Outlook October 13.

BTC/USD

Bitcoin rallied significantly during the day against the US dollar on Thursday. We reached towards the $5200 level, getting a bit overextended. A pullback at this point would be a nice buying opportunity, as we certainly have a lot of buying pressure underneath. However, you cannot chase a trade like this, you have to wait for value to come back into the marketplace. I now think that the $4900 level offers a bit of a floor.

BTC/JPY

Bitcoin also rallied against the Japanese yen, reaching towards the ¥580,000 level. I think at this point, pullback is a buying opportunity, and we should see a significant amount of support near the ¥550,000 level. Ultimately, this market goes much higher, perhaps reaching towards the ¥600,000 level, as this breakout is significant. Bitcoin looks like it’s ready to go higher, but look for value, don’t jump in right away.

Thanks for watching, I’ll be back 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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