News BTC Bitcoin Analysis May 1

By Christopher Lewis May 1, 2017 5:57 AM EST

This story was shared from this site
[embedded content]

BTC/USD

Bitcoin fell during the day on Friday, forming a very negative candle for the session. It looks as if the $1450 level is going to offer significant resistance. A breakdown below the bottom of the candle should send this market looking for support below. The $1350 level underneath could be a place where buyers return. This is still a very strong market, just that it needed to pull back a little bit to build up more momentum.

BTC/JPY

Bitcoin fell against the Japanese yen during the session on Friday, testing the ¥155,000 level. It looks as if we may pull back over here as well, and the ¥150,000 level should be supportive underneath. I’m looking for a supportive candle to go long in this market, so a supportive candle could be reason enough to go long. The market should continue to find buyers over the longer term, so selling isn’t even a thought.

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.

Facebook Comments


Comments are closed here.

Read previous post:
News BTC Ethereum Analysis May 1

[embedded content] ETH/USD Ethereum tried to rally during the day on Friday against the US dollar, but struggled at the...

Close