Hello and welcome to News BTC’s Market Outlook October 10.
BTC/USD
Bitcoin initially pulled back during the session on Monday, but found enough support near the $4550 level to turn around and bounce. If we can break above the high of the day, the market should continue to go looking towards the $4650 level next. This is a market that continues to see plenty of bullish pressure and dips continue to offer value. More of the same should be expected as the uptrend continues.
BTC/JPY
Bitcoin pulled back on Monday, but found enough support near the ¥508,000 level to turn around and bounce. The market should continue to go much higher, we have seen a nice impulsive move to the upside, and with that being the case it’s likely that Bitcoin will continue to strengthen against the Japanese yen. The ¥500,000 level underneath should be support, and perhaps a “floor” in the move.
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.