Bitcoin Analysis January 4, 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 rallied a bit during the trading session on Wednesday, but remains within a serious consolidation area. The $16,000 level above is resistance and the top of the range, so I think that if we were to break above there, the market would probably go looking towards the $18,000 handle. Otherwise, expect a short-term pullback from that area. Massive support can still be found at the $13,000 region.

BTC/JPY

Bitcoin initially dipped a bit during the trading session on Wednesday but recovered slightly. The market looks to be hovering around the ¥1.73 million level, with a support level underneath at the ¥1.5 million level, and resistance at ¥1.9 million. Much like the BTC/USD pair, I think this market may pull back slightly, but it should be a buying opportunity.

Thanks for watching, I’ll be back tomorrow.