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Hello and welcome to News BTC’s Market Outlook October 5.
BTC/USD
Bitcoin fell against the US dollar on Wednesday, testing the $4200 level. However, this is an area where I see a significant amount of support, extending down to the vital $4000 level. Because of this, I believe that buyers are starting to come back into the market slowly, and we should see a bounce from here.
BTC/JPY
Bitcoin fell against the Japanese yen, reaching towards the ¥475,000 level. The market does have support just below though, and I think we will take our cues from the BTC/USD pair. If it starts to bounce or rally, this market should as well. I still have a target of ¥500,000.
Thanks for watching, I’ll be back 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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