Hello and welcome to News BTC’s Market Outlook September 20.
BTC/USD
Bitcoin dipped at the beginning of the session on Tuesday, but seems to be finding support near the $3900 level. As I write this, consolidation between the $3900 and $4100 level looks likely, with a break above the $4100 level being the sign that buyers will need to see to feel comfortable about going “all in” into the market. We’ve seen a lot of volatility as of late, but the technical pattern that is setting up is a very bullish sign.
BTC/JPY
Bitcoin also dipped against the Japanese yen, using the ¥430,000 level as support. Ultimately, the market looks likely to continue going higher if we can break above the ¥450,000 level, we could go much higher, perhaps reaching towards the ¥500,000 level. Pullbacks should continue to attract a lot of attention, as they offer value.
Thanks for watching, I’ll be back tomorrow.