Hello and welcome to News BTC’s Market Outlook May 18.
BTC/USD
Bitcoin continues to rally as Wednesday was very profitable. The market broke above the $1800 level, and it now looks as if we’re going to test the highs again. Because of this, short-term dips continue to offer buying opportunities and what is a very strong uptrend. A break above the $1900 level almost certainly sets the stage for $2000.
BTC/JPY
Bitcoin also rallied against the Japanese yen, making a fresh, new high. Because of this, looks as if the market will continue to go much higher as the consolidation is over and we are now free to go even higher. Pullbacks continue to be value that should be taken advantage of, as Bitcoin seems to be on a bit of a roll now. The ¥210,000 level should be supportive going forward.
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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