BTC/USD and BTC/JPY Technical Analysis July 4, 2017

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Last Updated: June 11, 2024 1:22 pm

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Hello and welcome to News BTC’s Market Outlook July 4.

BTC/USD

The Bitcoin market rallied against the United States dollar, reaching towards the $2600 level. A break above there would be very bullish, as we are forming a bit of a wedge. I do believe in the uptrend, so once we break above that level I feel that the buyers will jump in.

BTC/JPY

Bitcoin rallied against the Japanese yen during the day, breaking above the hammer from the Friday session. If we can clear the ¥290,000 level, the market should then go looking for the 300,000 in level, and then even higher than that. Buying on short-term dips continues to be a viable strategy against the Japanese yen.

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

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