BTC/USD and BTC/JPY Technical Analysis Aug 1, 2017

Hello and welcome to News BTC’s Market Outlook Aug 1.[embedded content]

BTC/USD

Bitcoin fell initially on Monday but found enough support underneath the turn around and form a hammer like candle as I record this video. It looks as if we are going to try to break above the $2800 level, and then eventually go looking towards $2900. Pullbacks on short-term charts should continue to offer value the traders are willing to take advantage of.

BTC/JPY

Bitcoin rallied against the Japanese yen, as we continue to press the ¥320,000 level. A break above that level would be a very bullish sign, and could send this market much higher, with the first target being ¥340,000. I have no interest in shorting this market, pullback should continue to offer opportunities to take advantage of value.

Thanks for watching, we’ll 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.

Source: Newsbtc

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