Hello and welcome to News BTC’s Market Outlook June 19.[embedded content]
Bitcoin initially fell against the US dollar, but did recover slightly during the day on Friday. The $2400 level is starting to offer a little bit of support, as there is a lot of order flow just below. Currently though, I think you need to see a couple of days of stability to start buying Bitcoin. Ultimately, it is probably best to wait until after the Monday close.
Bitcoin also fell against the Japanese yen, but also found a bit of support. The ¥260,000 level just below is supported, and I think we are starting to see buyers jump back into the market. A break above the top of the candle for the previous session on Thursday would be reason enough to start going long and aiming for the ¥330,000 level. Having said that, we could drift down to the ¥240,000 level.
Thank you for watching I will see you again tomorrow.
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