BTC/USD Bitcoin rallied during the trading session on Thursday, when other crypto currencies were rather quiet. We are facing a significant resistance barrier above, which at this point I don’t think is cleared until we get above the $12,250 level. In other words, there will be a lot of pullbacks that appear on short-term charts, but if we can continue the upward trajectory, I suspect that a lot of players will be out there adding on the short-term dips. The alternate scenario is that we break down below the $9400 level, sending this market tumbling towards $8000. BTC/JPY This is the most important chart in the crypto currency markets. It shows you where 40% of Bitcoin trading is going, and during the session on Thursday, it looks as if there are buyers out there. We still have a lot of resistance above extending to the ¥1.3 million level though, so it’s not until we clear that area that I think the “all clear” is sounded for buying Bitcoin against the Japanese yen. Look for ¥1 million underneath to be massively supportive.