BTC/USD and BTC/JPY Technical Analysis July 28, 2017

Hello and welcome to News BTC’s Market Outlook July 28.[embedded content]

BTC/USD

Bitcoin had a slightly positive session on Thursday, as we continue to try to find our footing in this market. A break above the $2600 level should send this market looking towards the $2800 level. Above there, there is still a significant amount of resistance, but ultimately, it’s not until we break above the 3000 level that the longer-term buy-and-hold type of traitor will come back in.

BTC/JPY

Bitcoin rallied a bit during the day, bouncing off the ¥280,000 level. It looks as if the market will go towards the ¥300,000 level above, and then go reaching towards the ¥320,000 level. Because of this, I believe that the buyers will continue to be active, as we are trying to build up a bit of a floor in this market. Longer-term, I believe that we break above the ¥320,000 level and continue to go much higher.

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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.

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Source: Newsbtc