In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the January 9th session.
Bitcoin/USD — As you can see, bitcoin has fallen a little bit during the trading session on Monday reaching towards $14,000. We have got back some of those losses, We have a bullish flag on the daily chart. If we can break above the top of this flag, in theory, this measure for a target of $30,000. Otherwise, we could drift lower in the short-term. And I would not be surprised by that. If $12,000 gives way, that is very negative, sending bitcoin looking for $8,000.
Bitcoin/JPY — As you can see, we have pulled back a little bit. I have 1.5 million level as the floor in the market and if we can stay above there, it is probably only a matter of time before the buyers get involved. I would play this market from a bounce. But we are in the oversold area and have crossed on the stochastic. So, we have a little bit of drifting to go to the downside. Alternately, if we break above 2 million, we will probably go looking for 2.25 million yen next.
© Prabhu for Forex Videos, 2018. |
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