BTC/USD
Bitcoin markets fell again during the trading session on Wednesday, as we have cleared the $12,000 level, and even reached towards the $10,000 level. Obviously, $10,000 is going to attract a lot of attention, not only because of the large round number, but also because of the significant 50% Fibonacci retracement level being touched. We have already reached that level, the question is whether we can sustain it? At this point, I think that rallies are to be sold.
BTC/JPY
Bitcoin also continues to fall against the Japanese yen, and at this point I would expect to see the ¥1 million level tested. If we rally from here, it’s not until we break above the ¥1.5 million level that I would believe it, and because of that I would be very cautious about rallies. I suspect selling the rallies continues to work here as well.
Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Congratulations @kindersaft! You received a personal award!
Click here to view your Board of Honor
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit
Congratulations @kindersaft! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Vote for @Steemitboard as a witness to get one more award and increased upvotes!
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit