BTC/USD and BTC/JPY Technical Analysis November 22 2017

Hello and welcome to News BTC’s Market Outlook November.

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BTC/USD

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Bitcoin remains volatile, as we have cleared the 8200 level now. It looks as if we are going to continue to find a “buy on the dips” mentality, and therefore selling is all but impossible to do at this point, as Bitcoin seems hell-bent on going to the $10,000 level. Overall, there should be a “hard floor” at the $7800 level now.

BTC/JPY

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Bitcoin fell rather sharply against the Japanese yen initially during the trading session, but found enough support near the ¥900,000 level to bounce significantly and go looking towards the highs again. At this point, I suspect that it’s a given that we are going to go looking towards the ¥1 million level. There is a massive psychological significance to that level, so don’t be surprised if we pull back once we reach it.

Thinks for watching, I’ll be back 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

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