In this video, the Trader Guy looks at the cryptocurrency, bitcoin for the April 13th session.
Bitcoin/USD — As you can see, we did have a lot of noise in the bitcoin market. It was very positive on Thursday. We gained 10%, a pretty significant move. However, when you look at this candle in relation to what has been going on over the last several months, its kind of putting things into a bit of perspective. So, be cautious with getting too bullish. A break above 8,000 sends this market looking for 9,000, which could be a selling opportunity. I think that 10,000 will offer a bit of a ceiling. A break above there could be taken a bit more seriously.
Bitcoin/JPY — We have very much the same thing against the yen. Somewhere around the 900,000 yen level though, it should be some trouble. The 1 million yen level will certainly be a bit of trouble. I think if we can break there, we could go to 1.25 million yen. A breakdown below 700,000 opens the door to half a million yen.