BTC/USD and BTC/JPY Technical Analysis June 7, 2017

Hello and welcome to News BTC’s Market Outlook June 7.[embedded content]

BTC/USD

The going rally during the session on Tuesday, breaking above the 2900 level. Because of this, looks as if the market is ready to continue going much higher, and the $3000 seems all but an afterthought now. Short-term pullbacks continue to be buying opportunities, and with this being the case it’s likely that the 2700 level underneath will start to offer significant support.

BTC/JPY

Bitcoin rallied against the Japanese yen as well, breaking well above the ¥300,000 level. It looks now as if the market is going to try to reach the ¥350,000 level next, and short-term pullbacks will continue to offer value that people jump to from what we can see. On a day that the Japanese yen strengthened in the traditional currency markets, it fell against Bitcoin, and that of course is a very bullish sign.

Thanks for watching and 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.

Source: Newsbtc

loading...