BTC/USD and BTC/JPY Technical Analysis September 27th 2017

Hello and welcome to News BTC’s Market Outlook September 27.

BTC/USD

Bitcoin markets initially dipped on Tuesday, but found enough support near the $3840 level to turn around and find buying pressure again. It looks as if the $4000 level will be tested, and a break above that level will be psychologically significant. Under those circumstances, it’s very likely that the buyers will come in and continue to push Bitcoin to the upside. Alternately, a pullback from here should find plenty of support, and therefore it looks as if the buyers are starting to take over again.

BTC/JPY

Bitcoin fell against the Japanese yen, testing the ¥428,000 level. That area turned around and found significant bullish pressure, as it looks like we are going to continue to see Bitcoin rally against the yen also. I believe that we are going to go looking towards the ¥450,000 level, but we may get the occasional pullback. Those should end up being buying opportunities.

Thanks for watching, see you again 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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