Hello and welcome to News BTC’s Market Outlook May 30.[embedded content]

BTC/USD

Bitcoin rallied against the US dollar on Monday, using the $2100 level as support. However, the $2300 level is also offering significant resistance. Overall bias of course is to the upside, so short-term dips will continue to attract buying. A break above the $2300 level should free this market to go looking towards the $2500 level yet again.

BTC/JPY

Bitcoin had a very quiet day against the Japanese yen, essentially treading water. It looks as if the ¥250,000 level it’s going to be supportive, while the 280,000 level above may be resistant. Because of this, break above the ¥280,000 level should send buyers back into the market and drive more upward pressure in what is obviously a very bullish market longer term.

Thank for watching and see you again 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.

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