Reason to trust
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 September 18.
BTC/USD
Bitcoin had a volatile session on Friday, initially rallying, but then fell towards the $3000 level. This major area has offered support, as it is a large, round, psychologically significant number, and is also the 50% Fibonacci retracement level from the longer dated move. That being the case, looks as if the buyers are coming back in and a break above the $3500 level would confirm that we have tried to form the bottom. In the meantime, if 3000 can hold, dips could be bought as well.
BTC/JPY
Bitcoin also had a very choppy session against the Japanese yen, but it looks as if were trying to form a base over here as well. ¥300,000 looks to be the floor, so I think that short-term dips that will almost certainly occur are looking to be potential buying opportunities as Bitcoin finds its footing again.
Thanks for watching, I’ll be back tomorrow.
