In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the March 2nd session.
Bitcoin/USD — As you can see, bitcoin has rallied a bit. It looks like we are trying to test the top of this shooting star from the Wednesday session. There is a lot of noise between here and 12,200. So, if we break above this level, then we are free to go much higher. In the meantime, it looks like an accumulation phase. A breakdown below 8,400 would be very negative.
Bitcoin/JPY — As you can see, the 1.2 million yen level is an important area where I think it extends to 1.3 million, where there is a significant amount of resistance. If we can break above the 1.3 million yen level, then I think market goes to the 1.5 million yen. The 1 million yen level underneath should be massively supportive, and I think that if we can break down below there, it would be very negative.