News BTC Bitcoin Analysis January 8 2018
- Bitcoin went sideways initially during the trading session
- hot higher as the market reached towards the vital $16,000 level
- Bitcoin is testing the ¥1.91 million level
Bitcoin Analysis – pullbacks should be buying opportunities, but given enough time we will probably break above that vital ¥2 million
BTC/USD Bitcoin went sideways initially during the trading session, but then shot higher as the market reached towards the vital $16,000 level. A clearance of that level for more than a few hours should send this market higher, perhaps reaching towards the $18,000 level. Otherwise, look for pullbacks as potential buying opportunities.
BTC/JPY Bitcoin is testing the ¥1.91 million level as I record this, which is the beginning of resistance to the ¥2 million level. I believe that pullbacks should be buying opportunities, but given enough time we will probably break above that vital ¥2 million level, allowing the market to reach towards the ¥2.25 million level. In the meantime, pullbacks offer value.
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