BTC/USD and BTC/JPY Technical Analysis June 29, 2017

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Hello and welcome to News BTC’s Market Outlook June 29.

BTC/USD

Bitcoin fell against the US dollar initially during the Wednesday session but continues to find a little bit of support just underneath. Because of this, looks like we are getting ready to start grinding higher, and I think that will be the key word here: grinding. I am a buyer of dips, no interest in selling and I believe that a break above the $2600 level is the next sign of strength that could propel this market towards the $2800 level.

BTC/JPY

Bitcoin fell a bit against the Japanese yen as well, but continues to find buyers just below the ¥280,000 level. Because of this, I believe it’s only a matter of time before we go higher, so therefore buying on the dips may be prudent at this juncture. As long as we can stay above the ¥260,000 level, I think that this market continues to find strength.

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