Bitcoin Analysis January 11, 2018

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 drifted a bit lower during the trading session on Wednesday, but is approaching a significant support level based upon the uptrend line. Ultimately, I think that there is significant support below at the $12,000 level, just as the massive resistance can be found at the $17,000 handle. I believe that it is only a matter of time before you to bounce and that Bitcoin continues to go higher.

BTC/JPY

Bitcoin drifted a bit lower against the Japanese yen during the session as well, but also is starting to form a hammer on the 4-hour chart, and I think we are starting to see buyers coming back into the market. Given enough time, I believe that the market is going to go to the ¥2 million level.

Thanks for watching, I’ll see you again tomorrow.