Technical Analysis BTC/USD and BTC/JPYOctober 17 2017

qaismx (46)in #bitcoin • 7 years ago (edited)

Recent month of october was good for bitcoin. Bitcoin did a bit during the day on Monday, but found enough support at $5600 to bounce again. However, it’s too resistive near the $58 level for Bitcoin to break out as I record this, so I think we may have a bit of a roll over coming. I see plenty of support near the $5500 level underneath, as well as the $5400 level. Because of this, I’m looking for value and support at lower levels to start buying, and am not interested in selling.

I think Bitcoin also continues to grind away against the Japanese yen, as the ¥650,000 level looks to be a bit too resistive. Given enough time, I think that the markets will find reason to go higher, but currently I think we have a bit of a “floor” near the ¥600,000 level, which is what I’m using as a sign of support. I’m a buyer of dips, and believe that we will eventually break out but we may have to build up the confidence first.

Keep watching for updates @qasimx

#steem #life #business #people

7 years ago in #bitcoin by qaismx (46)

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minnowpond (62) 7 years ago

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qaismx (46) 7 years ago

Thank you

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bellyrub (60) 7 years ago

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