Hello and welcome to News BTC’s Market Outlook November.

BTC/USD

btcusd

Bitcoin has rallied yet again during the trading session on Monday, reaching towards the $9600 level. At this point, we are overbought by just about any metric that you would use. However, I believe that there is such a psychological necessity for the market to test the $10,000 level, it would not surprise me at all to see this market reach that level today. Pullbacks at this point should continue to find plenty of support underneath, especially near the $9000 level.

BTC/JPY

btcjpy

By contrast, Bitcoin has already broken above the psychologically important ¥1 million level. Because of this, it may be a bit of a laggard when it comes to the Bitcoin market, but ultimately the upside is probably where we’re going to go, and I would expect ¥1 million to offer psychological support.

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.

LEAVE A REPLY

Please enter your comment!
Please enter your name here