BTC/USD and BTC/JPY Technical Analysis December 1 2017

Hello and welcome to News BTC’s Market Outlook December.

BTC/USD

Over the last 24 hours, Bitcoin has been absolutely pummeled after the well-documented break above $10,000. In fact, the daily candle from the session would have been a shooting star. This of course is a very negative sign, but currently it looks as if the $9400 level is offering support. If it gives way to selling pressure, expect to run down to the $9000 level next. Alternately, we don’t technically continue the uptrend until we break above $10,600.

BTC/JPY

btcjpy

Bitcoin initially trying to get back most of the losses after the brutal selloff against the Japanese yen, but you can see did not make a higher high, thereby suggesting that we could see further continuation to the downside. At this point, I anticipate that the ¥1 million level continues to be the “floor”, but if we were to break down below that level it would indeed be a very negative sign, leading to much more selling pressure. As far as buying is concerned, I don’t see a signal to do so yet.

Thanks for watching, I’ll be back 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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