Hello and welcome to News BTCâs Market OutlookÂ November.
Bitcoin remains volatile, as we have cleared the 8200 level now. It looks as if we are going to continue to find a âbuy on the dipsâ mentality, and therefore selling is all but impossible to do at this point, as Bitcoin seems hell-bent on going to the $10,000 level. Overall, there should be a âhard floorâ at the $7800 level now.
Bitcoin fell rather sharply against the Japanese yen initially during the trading session, but found enough support near the Â¥900,000 level to bounce significantly and go looking towards the highs again. At this point, I suspect that itâs a given that we are going to go looking towards the Â¥1 million level. There is a massive psychological significance to that level, so donât be surprised if we pull back once we reach it.
Thinks for watching, Iâll be back tomorrow.
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