BTC/USD and BTC/JPY Technical Analysis October 9 2017

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Created by industry experts and meticulously reviewed

The highest standards in reporting and publishing

How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Hello and welcome to News BTC’s Market Outlook October 9.

BTC/USD

Bitcoin rallied to slightly during the day on Friday, breaking above the $4400 level at one point. Because of this, the market should continue to find buyers underneath, and it could present a “buy on the dips” mentality going forward. I think the given the overall uptrend over the last couple of days, we will eventually find the momentum to break out and above the recent highs at the 4450 level.

BTC/JPY

Bitcoin rallied against the Japanese yen as well, but we are still below the target of ¥500,000. Because of this, I believe that a little bit of patience will be needed to collect the gains from what should be a move to the upside. Eventually, I expect to see this market break above the ¥500,000 level, and continue much higher.

Thanks for watching, I’ll be back tomorrow.