Hello and welcome to News BTC’s Market Outlook September 15.
BTC/USD
Bitcoin fell a bit during the day yet again on Thursday, as fears of a Chinese crackdown on crypto currencies continue. The $3800 level above should offer resistance, as we have seen significant support there previously. If we rally at this point, some type of exhaustive candle should be and I selling opportunity. If we were to break above the $3800 level, I might consider buying, but until then I would be a bit suspicious.
BTC/JPY
Bitcoin fell precipitously against the Japanese yen as well, breaking below the ¥400,000 level. Because of this, I think that the bearish pressure may continue, and Bitcoin seems to be ready for a major pullback. With fears of a Chinese crackdown, it makes sense that very little will be needed to scare this market. We are certainly seen a massive amount of selling pressure, and it’s not until we break above the ¥430,000 level that I would be interested in buying.
Thanks for watching, all see you again on 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.