BTC/USD and BTC/JPY Technical Analysis September 22 2017

Hello and welcome to News BTC’s Market Outlook September 22.

BTC/USD

Bitcoin went sideways again during the session on Thursday, as we continue to see the $4000 level offer a bit of noise. Ultimately, I believe that eventually the markets will continue to go higher, as we have been in an uptrend for some time, I think that we may be trying to build up a base first. This makes a lot of sense though, because Bitcoin was essentially attacked by the Chinese government. Ultimately, this shows that the markets believe in Bitcoin going forward, so I think that the buyers will return given enough time. A break above the $4000 level would be a bullish sign.

BTC/JPY

Bitcoin is also very quiet against the Japanese yen, but again this is a very good sign. Stability after that type of volatility always should be thought of as a good thing, because it gives you the ability to catch her breath and build up a larger position. I think that if the market can break above the ¥450,000 level, the market should continue to go higher, perhaps reaching for the 500,000 level.

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.

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