• Entertainment
  • Finance
  • Marketing
  • Real Estate
  • Technology
  • Social
National Journal Community Of e-Experts
Finance 0

BTC/USD And BTC/JPY Forecast – Monday, April 16

By Kurt Osterberg · On April 16, 2018

BTC/USD

Bitcoin rallied slightly during the trading session on Friday, breaking above the $8100 level. The market looks like it is ready to continue to go higher, perhaps reaching towards the $9000 level. I believe that the $6500 level underneath will continue to offer support. I believe that the $6000 level underneath is the temporary “floor” in the market, and I think that the market participants will continue to be attracted to that level. I think the $10,000 above is going to continue to be resistive though, so I think that we may get another day or 2 of bullish pressure, but I would anticipate that a pullback is likely. That’s likely to be an opportunity for buyers to try to build up enough momentum to go and challenge that area. I think that we will continue to see volatility, but the Thursday session has given hope to Bitcoin buyers again.

BTC/JPY

Bitcoin markets rallied a bit during the trading session against the Japanese yen as well, but not nearly as strong as it had on Thursday. I think that the market continues to try to find higher levels, but I believe that the 1 million level will be a major barrier. I suspect that we will get short-term bullish pressure, and then a bit of a pullback. I don’t think that were to break down though, I think that the ¥700,000 level will offer a bit of a floor in the market. If we did breakdown below there, the market could probably go down to the €600,000 level. I believe that a range bound trading system is probably the best way to play this market, with the ¥700,000 level be in the bottom, and the ¥1 million level be in the top.

Print Friendly, PDF & Email

Share Tweet

Kurt Osterberg

You Might Also Like

  • Finance

    How to Manage Events in the Post-COVID World

  • Finance

    Building the Right Tech Stack to Support your Revenue Operations Goals

  • Finance

    Can You Outsource Thought Leadership?

No Comments

Leave a reply Cancel reply

Top Finance

  • Chart: Amazon’s Dominance In Ecommerce Chart: Amazon’s Dominance In Ecommerce
  • Hedge Funds In The US Hedge Funds In The US
  • One Ring To Rule Them All One Ring To Rule Them All
  • Kanban vs Scrum: Understanding the Tools for Agile Success Kanban vs Scrum: Understanding the Tools for Agile Success
  • Samsung Galaxy Note 9 Review Samsung Galaxy Note 9 Review

New Posts

  • How to Manage Events in the Post-COVID World

    How to Manage Events in the Post-COVID World

    March 3, 2021
  • Building the Right Tech Stack to Support your Revenue Operations Goals

    Building the Right Tech Stack to Support your Revenue Operations Goals

    March 3, 2021
  • Can You Outsource Thought Leadership?

    Can You Outsource Thought Leadership?

    March 3, 2021
  • Don’t Be an Icky Guy (or Gal) Find Your Purpose with Ikigai

    Don’t Be an Icky Guy (or Gal) Find Your Purpose with Ikigai

    March 3, 2021
  • How to Celebrate Employee Appreciation Day this Year

    How to Celebrate Employee Appreciation Day this Year

    March 3, 2021
  • About
  • Contact Us
  • Privacy & Policy
  • Sitemap
  • Terms of use

Copyright © 2018-2021 NJCEE. All Rights Reserved.