Hello and welcome to News BTC’s Market Outlook April 21.
BTC/USD
Bitcoin rallied slightly overnight against the US dollar, but still finds quite a bit of resistance just above. In fact, there is a significant amount of resistance extending all the way to the $1300 level, so expect choppiness going forward. Short-term pullbacks could be buying opportunities, but quite frankly this will be a very volatile move to the psychologically important $1300 level. I see significant support at $1240.
BTC/JPY
Against the Japanese yen, Bitcoin finds itself banging on the resistance near the ¥139,000 region. A break above there sends this market looking for ¥150,000, and perhaps even higher than that. Currently, I think it’s prudent to expect short-term pullbacks but they should only offer value as the currency has been so strong as of late. In fact, selling isn’t even a thought until we break below the ¥130,000 level.
Thanks for watching and see you again 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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