BTC/USD
Bitcoin fell slightly during the trading session on Thursday, reaching towards the $7000 level. However, this area has offered a significant amount of support, has a certain amount of psychological importance to it, and it looks as if the stochastic oscillator is ready to turn to the upside again. Because of this, I suspect that the buyers are going to return, as we simply grind between the $7000 and $7600.
BTC/JPY
Bitcoin fell a bit during the day against the Japanese yen as well. The ¥800,000 level looks very likely to offer support again, especially considering that the stochastic oscillator is looking to turn around and rally a bit. I think we will go looking towards the ¥880,000 level above, which has been resistance. A break above there is a signal to start adding to a long position.
Thanks for watching, how 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.