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BTC/USD and BTC/JPY Technical Analysis April 27, 2017

By Christopher Lewis Apr 27, 2017 1:23 AM EDT

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Hello and welcome to News BTC’s Market Outlook April 27.
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BTC/USD

Bitcoin rallied against the US dollar during the Wednesday session, reaching towards the $1385 level. Currently, it appears that every time this market pulls back on a short-term chart, buyers are coming back into the marketplace to continue to push to the upside. Expect an attempt to reach the $1400 level over the next several sessions.

BTC/JPY

Bitcoin rallied against the Japanese yen as well, reaching the ¥154,000 level. At this point, ¥155,000 is all but assured. That is the psychologically significant number, so we could get a pullback from there. However, that should only offer value the traders will start buying. We have finally made a fresh, new high, so it should signify that we are going to go much higher. I expect the ¥150,000 level to now act as a floor in the market.

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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