BTC/USD and BTC/JPY Technical Analysis September 28 2017

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Hello and welcome to News BTC’s Market Outlook September 28.

BTC/USD

Bitcoin rallied again during the day on Wednesday, breaking cleanly above the $4000 level. I think that the market pulling back from here should be a buying opportunity though, and I think that a supportive candle is exactly what you’re looking for. I believe that the support runs down to at least the $3880 level. Ultimately, I think that the market should continue to look at Bitcoin as the leader of the crypto currency markets, and as it has rallied, the others have as well.

BTC/JPY

Bitcoin also rallied against the Japanese yen, testing the ¥450,000 level. We are starting to pull back a little bit later in the day, but I think that any pullback from here should be a buying opportunity, especially near the ¥440,000 level. Ultimately, I do think that we break out, and we go much higher.

Thanks for watching, I’ll be back tomorrow.