Bitcoin and Ethereum Price Forecast – BTC Prices Push Through $6600

The BTC prices pushed higher over the last 24 hours as the bulls return to try and take grip of the market during this period. It is a new month and though we feel that the crypto market is not out of the woods as yet, we believe that the market would be buoyant in the coming days and the bulls have made a statement for that in the first full trading day of the month yesterday. The prices shot through the $6600 region which in itself is a big achievement for the bulls. The key would be the region around the price of $6800 and this is where we are likely to witness a lot of selling and we are likely to see the bulls slip up once again.

Suggested Articles

• Why Bitcoin Cash is Better than Bitcoin?
• How to Buy Bitcoin Cash?
• How to Short Bitcoin?

BTC Prices Continue Rebound

This has been the region of battle between the bulls and the bears and the bulls have been unable to surmount the selling in this region so far. It remains to be seen whether they would launching another attack on this region in a day or 2 and if they do, it would be interesting to see the price action this time. There have not been specific fundamentals to drive the prices higher but we have seen that some of the funds get diverted into the BTC markets whenever there is risk and there is a fall in the stock markets and yesterday could have been more proof of this same phenomenon which only time will tell.

The ETH market has also been able to rebound in a strong manner and the prices have pushed through the $450 region and the prices trade comfortably above this region as of this writing. We expect this buoyancy to continue for the short term.

Forecast

Looking ahead to the rest of the day, we believe that the crypto markets would continue to be buoyant but at the same time, the resistances are just overhead as far as the BTC and ETH markets are concerned. So expect some consolidation and ranging with bullish momentum.