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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Bitcoin Analysis January 12, 2018

newsbtc
newsbtc
1 year ago
1 min read
btcusd

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BTC/USD

Bitcoin continues to drift sideways overall, after initially dipping during the trading session. The uptrend line underneath continues to offer support, so we could get a bit of a rally from here, but overall it looks as if we have been consolidating. The $12,000 level underneath is massively supportive, and that being the case it’s likely that the market will find buyers in that area. The $17,000 level above is massively resistive, so we could find the market going back and forth between here and there. That being the case, if we break down below the uptrend line, look for buyers return at $12,000 on the premise of value.

 

BTC/JPY

Bitcoin also is drifting lower against the Japanese yen, as the market continues to consolidate in general. The ¥1.5 million level underneath offer support, just as the uptrend line does just below current pricing. Because of this, I think that the market will probably find some type of buying pressure, and if it does, we could go to the ¥2 million level.

 

Thanks for watching, I’ll be back tomorrow.

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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.

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