Hello and welcome to News BTC’s Market Outlook April 28.
BTC/USD
Bitcoin rallied against the US dollar initially on Thursday, but continues to run into a little bit of pressure above. By pulling back, this suggests that the market is going to pull back a little bit from here. I think that is healthy, as a pullback can only pick up more momentum. I believe that there should be plenty of support near the $1350 level underneath. A break above the top of the candle for the day would show it impulsively bullish market.
BTC/JPY
Bitcoin of course rallied against the Japanese yen as well, breaking to the ¥157,000 level but finding a significant amount of resistance and that area. Because of this, pullbacks are likely, but I think that pullback will only offer value the traders will take advantage of. I believe the “floor” of the market is somewhere near the ¥150,000 level underneath. We have exploded to the upside, so therefore I have no interest in selling.
Thanks for watching and see you again Monday.
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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