BTC/USD and BTC/JPY Technical Analysis April 26, 2017

By Guest Author Apr 26, 2017 1:57 AM EST

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Hello and welcome to News BTC’s Market Outlook April 26.

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BTC/USD

Bitcoin rallied against the US dollar, touching the $1360 level during the session on Tuesday, as we continue to see bullish pressure mount. It appears that buying on the dips is still a viable strategy, and it now looks as if the $1400 level is in sight over the next couple of sessions or so. Massive support should be seen at the $1350 level, and therefore that keeps this a “buy only” market.

BTC/JPY

Unlike the BTC/USD pair, BTC/JPY has not broken out to a fresh, new high. However, we have broken above the psychologically important ¥150,000 level, and it is more than likely only a matter of time before we do make a fresh, new high. Pullbacks should be supported down to the ¥145,000 level, so much like the other pair, this is most certainly a “buy on the dips” type of situation.

Thanks for watching and see you again 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.

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