Yahoo Finance Bitcoin Price Forecast – Bitcoin continues to fall on Wednesday
BTC/USD
The Bitcoin markets have fallen again during the day on Wednesday, as we continue to see a major selloff in this pair. I think that the allure of Bitcoin continues to be tarnished, and I think now we are going to go looking at the $6000 level underneath which is the bottom of the longer-term consolidation area. I think that if we can break down below the $6000 level, the market is likely to go much lower, and at the very least the $5000 level. Short-term rallies continue to offer a nice selling opportunities.
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BTC/JPY
The Bitcoin markets initially tried to rally during the trading session on Wednesday, but then broke down to the downside. The ¥700,000 level underneath is massive support, and I think that this area will be stringent as far as support is concerned. If we were to break down below there, the market could go much lower, perhaps down to the ¥600,000 level. This is a market that has been very soft for quite some time, and I think it’s very difficult to imagine buying this market anytime soon. I think that if the market rallies above the ¥800,000 level, we could see a short-term burst higher, but right now it looks as if the Bitcoin markets are broken in general.
BTC/USD Video 14.06.18
This article was originally posted on FX Empire
