THELOGICALINDIAN - Hello and acceptable to News BTCs Market Outlook October 17
BTC/USD
Bitcoin did a bit during the day on Monday, but begin abundant abutment at $5600 to animation again. However, it’s too arresting abreast the $58 akin for Bitcoin to breach out as I almanac this, so I anticipate we may accept a bit of a cycle over coming. I see affluence of abutment abreast the $5500 akin underneath, as able-bodied as the $5400 level. Because of this, I’m attractive for amount and abutment at lower levels to alpha buying, and am not absorbed in selling.
BTC/JPY
Bitcoin additionally continues to bullwork abroad adjoin the Japanese yen, as the ¥650,000 akin looks to be a bit too resistive. Given abundant time, I anticipate that the markets will acquisition acumen to go higher, but currently I anticipate we accept a bit of a “floor” abreast the ¥600,000 level, which is what I’m application as a assurance of support. I’m a client of dips, and accept that we will eventually breach out but we may accept to body up the aplomb first.
Thanks for watching, I’ll be aback tomorrow.
