BTC/USD and BTC/JPY Technical Analysis October 31 2017


BTC/USD

Bitcoin continues to rally against the US dollar, in a somewhat muted fashion on Monday. The $6200 level has offered a bit of resistance, but I do think that eventually we break out. A pullback may be necessary, but quite frankly, there is a strong uptrend line on the 4-hour chart that continues to support the market. $6000 should be supportive as well, this is ultimately a “buy on the dips” move.

BTC/JPY

Bitcoin also rallied a bit against the Japanese yen, as we continue to pressure the ¥700,000 level. I believe in buying dips over here as well, as we are obviously in a strong uptrend. A break above the ¥700,000 level has this market going much higher, probably ¥800,000 over the longer term. It will be volatile, but then again Bitcoin always is.

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


シェアする

  • このエントリーをはてなブックマークに追加

フォローする

日本語に翻訳する