BTC/USD and BTC/JPY Technical Analysis September 18 2017

Hello and welcome to News BTC’s Market Outlook September 18.

BTC/USD

Bitcoin had a volatile session on Friday, initially rallying, but then fell towards the $3000 level. This major area has offered support, as it is a large, round, psychologically significant number, and is also the 50% Fibonacci retracement level from the longer dated move. That being the case, looks as if the buyers are coming back in and a break above the $3500 level would confirm that we have tried to form the bottom. In the meantime, if 3000 can hold, dips could be bought as well.

BTC/JPY

Bitcoin also had a very choppy session against the Japanese yen, but it looks as if were trying to form a base over here as well. ¥300,000 looks to be the floor, so I think that short-term dips that will almost certainly occur are looking to be potential buying opportunities as Bitcoin finds its footing again.

Thanks for watching, I’ll be back tomorrow.

Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment/trading advice. All the information is believed to come from reliable sources. NewsBTC does not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be liable for any loss incurred.

Source:Read the official page


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