Bitcoin and Ethereum Price Forecast – BTC Prices Remain Strong

The BTC market continues to trade in a buoyant manner over the last 24 hours. The prices have pushed through the $7000 region and continue to trade there as of this writing and the fact that the prices have been holding up all this time should be a matter of pride and happiness for the bulls. This is likely to draw in more and more buyers. The more time that the prices continue to spend above the crucial $6800 region, more would be the confidence of the traders and hence we should see the demand rising in due course of time. But the only thing of worry for the bulls would be the fact that the prices have not been able to run higher following the break and it has been more of a slow and steady rise during this period.

BTC Prices Stay Above $7000

This is likely to be a bit of concern for the bulls and hence they are likely to keep an eye out for the future price movements and would also be ready to cover if and when the prices fall back into the range in the short term. They have been battling hard over the last couple of months to prevent the prices from falling further and now they seem to be gaining the upper hand during the last few weeks or so and they would want to make sure that they make full use of the break that they have got.

As mentioned in our forecast yesterday, the ETH market does not seem to be too enthused at this point of time and it doesnt seem to be in a mood to join the crypto party as yet. We will have to wait and see whether it would do so when the party is in full swing in the short term.

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Forecast

Looking ahead to the rest of the day, we do not have any major fundamentals or economic news but the point of interest would continue to be whether the break higher would hold and as said earlier, the more time that the prices continue to remain higher, the better would be the chances of this move continuing higher in the short and medium term.