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Hello and welcome to News BTC’s Market Outlook September 27.
Bitcoin markets initially dipped on Tuesday, but found enough support near the $3840 level to turn around and find buying pressure again. It looks as if the $4000 level will be tested, and a break above that level will be psychologically significant. Under those circumstances, it’s very likely that the buyers will come in and continue to push Bitcoin to the upside. Alternately, a pullback from here should find plenty of support, and therefore it looks as if the buyers are starting to take over again.
Bitcoin fell against the Japanese yen, testing the ¥428,000 level. That area turned around and found significant bullish pressure, as it looks like we are going to continue to see Bitcoin rally against the yen also. I believe that we are going to go looking towards the ¥450,000 level, but we may get the occasional pullback. Those should end up being buying opportunities.
Thanks for watching, see you again tomorrow.