Bitcoin rallied during the Monday session, as we are retaking the 4000 handle. It looks likely that buyers will continue to be attracted to this market, after a massive selloff. However, there are still concerns coming out of China as it appears government officials are looking to block Bitcoin altogether. With this, expect a significant amount of volatility.
Bitcoin is approaching the ¥450,000 level, and a break above that would be a very bullish sign. If we can clear that level, the market should continue to go towards the 480,000 level. Alternately, if we were to break down below the ¥400,000 level, that would be a negative sign.
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.