BTC/USD and BTC/JPY Technical Analysis July 19, 2017

Hello and welcome to News BTC’s Market Outlook July 19.[embedded content]

BTC/USD

Bitcoin initially fell during the session on Tuesday, but found enough support below the 2200 level to turn around and continue to go even higher. We are facing a significant amount of resistance in the form of the $2400 level though, so clearing that could open the door to the $2600 level. Because of this, if you did not take our advice at the $2000 level, you may be chasing the trade if you try to get in here.

BTC/JPY

Bitcoin fell initially during the session on Tuesday, but found support at the ¥240,000 level. The market then broke above the ¥260,000 level, which is a very bullish sign. However, there is quite a bit of resistance just above the ¥280,000 level, so to continue going higher we will probably have to pull back a little bit to build up momentum.

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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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