BTC/USD and BTC/JPY Technical Analysis August 22, 2017

Hello and welcome to News BTC’s Market Outlook Aug 22.
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BTC/USD

Bitcoin found itself going sideways during most of the session on Monday, as we continue to hover just above the $4000 level. Because of this, I think we are in an accumulation phase, meaning that adding slowly is probably the best way to go, and move above the $4120 level could be the signal to the market that we are getting ready to reach towards the $4300 level above. I have no interest in shorting, I believe there is massive amounts of support down to the $3600 level.

BTC/JPY

Bitcoin fell a bit against the Japanese yen during the day on Monday, but continues to enjoy support near the ¥440,000 level. I think there is plenty of support below, so I think we will probably get a short-term bounce relatively soon. A break above the ¥460,000 level would be a nice buying signal, as it would show that we are picking up momentum.

Thank you for watching, I’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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