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NEWS BTC Bitcoin Analysis January 22, 2018

12 ratings | 693 views
BTC/USD Bitcoin markets rallied a bit during the day on Friday, but continue to find resistance at the $12,000 level. The stochastic oscillator is in the overbought area, and looks likely to cross soon. There is very little in the way of volume, so I suspect that the market is going to continue to favor selling. It is not until volume picks up on a move higher that I am comfortable going long. At this point, I think we are much more likely to see the market drop to test the lows again. If we were to break above $13,000 and show signs of volume again, then I would be willing to go long. BTC/JPY Bitcoin went sideways against the Japanese yen as well, and still faces a significant amount of resistance at the ¥1.5 million level. Any rally at this point in time will more than likely find a lot of resistance, at least until that area is broken above. Volume is a bit better in this market, but that makes sense considering most of the largest trade blocs can be found in Asia. At this point though, I would be very leery of buying. Thanks for watching, I’ll be back tomorrow
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Text Comments (2)
The Vikram Koshal007 (1 year ago)
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Mark Franke (1 year ago)
Love the analysis Chris. You are always my first YouTube video of the day. You should just put "todays" date on description there are probably more people confused about your future date thing.

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