BTC/USD and BTC/JPY Technical Analysis July 21, 2017

Hello and welcome to News BTC’s Market Outlook July 21.

BTC/USD

Bitcoin rallied against the US dollar, slicing through the vital $2400 level. As I predicted yesterday, the $2600 level would be targeted. That’s where we find ourselves during recording, and I believe that if the market can continue higher, the next target will be 2800. Until then, I remain very bullish of this market on short-term pullbacks as they should represent value.

BTC/JPY

Bitcoin has reached the ¥280,000 level, and now looks set to challenge the ¥300,000 level. Because of this, I am waiting to see either an extension of the rally be on the daily range, or perhaps a pull back towards the ¥260,000 handle where I expect to see more buying pressure. Ultimately, I believe that we are going to continue to see Bitcoin rally.

Thanks for watching, I’ll 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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