Bitcoin and Ethereum Price Forecast – BTC Prices Still in RangeThe BTC prices have continued within the range for another day yesterday and there are no signs of a breakout as yet
The BTC prices have been steady at best, over the last 24 hours as the lack of fundamentals and economic news continues to rattle the markets as the traders search for direction and volatility. It is going to be difficult going in the days to come as the consolidation is likely to continue for the short term and this is only going to add to the misery of those traders who are looking for a lot of volatility so that they can make some decent profit out of their trades. With this kind of movement, it is likely that only the large investors would be benefited.
BTC Prices – Is the Bottom In?
There is an increasing feeling among many of the traders that we are likely seeing the bottom of the BTC prices for the short and medium term. The traders do not see that the prices are going to fall in a large manner anytime soon and this is likely to improve the confidence of the markets in a slow and steady manner. This is only going to add even more to the buoyancy of the markets and this is likely to last for sometime and only add to the strength of the underlying bullishness. If this continues, then we could see a bullish break anytime.
The ETH markets have also been quiet during this period and that would come as a relief for many of the ETH investors who have been holding on to the coin for a long time in the hope of better returns. It is a much better situation for them right now considering that the prices were sub-200 for much of the last month.
Looking ahead to the rest of the day, we do not have any major developments in the horizon and hence it is likely that the consolidation and the ranging would continue for the short term. This would mean that the prices are going to continue to be within the range of $6400 and $6800 for much of the next 24 hours or so.