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

newsbtc
newsbtc
1 year ago
1 min read
btcusd

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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.

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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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