Hello and welcome to News BTC’s Market Outlook October 3.[embedded content]
Bitcoin rallied a bit during the day on Monday, but ran into a little bit of trouble near the $4500 level. This is not a huge deal though, because one would expect a certain amount psychological resistance there. On a break above the $4500 level, the market can then go to $5000, and then perhaps even higher. Pullback should find support all the way down to the $4000 handle.
Bitcoin rallied against the Japanese yen as well, testing the ¥500,000 level. I believe that we continue to go higher, and that short-term pullback should be buying opportunities, with support extending down to the ¥450,000 level. This is a “buy on the dips” type of situation.
Thanks 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.