Hello and welcome to News BTC’s Market Outlook July 6.[embedded content]
Bitcoin fell a bit during the Wednesday session, but continues to find support near the $2500 level. It looks as if the market is going to bounce from here though, and perhaps continue to grind towards the upside. I believe that the $2800 level is a target that traders will be looking for, so short-term buy on the dips type of strategies seem to be the best way to play this market.
Bitcoin fell a bit during the day on Wednesday against the Japanese yen as well, and it looks likely that we will continue to find buyers underneath. I believe that the market is reaching towards the ¥300,000 level, which is resistance. The market break above there should send this pair much higher, perhaps the ¥320,000 level, and then the ¥340,000 level.
Thank you 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.
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