Bitcoin Analysis January 23, 2018

newsbtc

Last Updated: June 11, 2024 9:03 pm

1 min read

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.

BTC/USD

Bitcoin rolled over during the Monday session as traders came back to work, slicing below the $11,000 level. It looks as if we are starting to see more selling, but the $10,000 level course could offer a bit of support. We are starting to see government crackdowns on digital currencies, and that of course is having a negative effect on the market. At this point, it looks as if the downward pressure is going to continue. The $12,000 level above should be resistance.

BTC/JPY

Bitcoin also fell against the Japanese yen, breaking below the ¥1.25 million level. It looks now as if we are going to head towards the lows again, so selling is about the only thing you can do. It’s not until we break above the ¥1.5 million level that we could be comfortable going long.

Thanks for watching, I’ll be back tomorrow.

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.