BTC/USD and BTC/JPY Technical Analysis November 13 2017

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BTC/USD

Bitcoin fell a bit during the trading session on Friday, breaking through the important $7000 level. However, the $6800 level previously has been supported, and it looks as if the buyers are trying to come back into the market. Because of this, I am a bit cautious, but willing to start buying Bitcoin above the $7000 level again as it would show a turn around and resumption of the bullish pressure that we have seen. It should also be noted that the Bollinger bands are signaling a slightly oversold situation, right along with the stochastic oscillator doing the same.

BTC/JPY

Bitcoin also fell against the Japanese yen slicing through the ¥800,000 level. I see a significant amount of support below at the ¥720,000 level, so it’s only a matter of time before the buyers return from what I see. However, I currently believe that we will probably get an opportunity against the dollar quicker than the yen.

Thanks for watching, I’ll see you 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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Source: Newsbtc