Bitcoin and Ethereum Price Forecast – BTC Prices Still in Range

As expected, the BTC prices have been moving in as slow and steady manner over the last 24 hours as the prices continue to consolidate and range for much of the day. This is likely to continue for the short term and we would not be surprised if it continues for the rest of the month as well. It has been that kind of a market with developments happening thing and fast in the crypto industry and the investors in the BTC market are trying to make sense of all that and seeing where it is likely to take the BTC prices over the short and medium term as well. It is going to be quite a battle but the investors would like to believe that this is an accumulation phase which would lead to higher prices over the coming weeks.

Suggested Articles

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

Prices Stagnant

Looking ahead, though this might seem to be accumulation, it can also lead to tiredness among the traders who had entered the market hoping for some quick returns. That has not happened so far and hence the weak holders are likely to look to exit the market and if and when that happens, it is only going to place additional pressure on the prices in the coming days. Unless the prices break through the $7800 region in a quick manner, it is going to be tough times for the bulls and it is important that they make a stand now and ensure that the prices are buoyed heading into the weekend.

The ETH prices have also been trading in a slow and steady manner as the prices are just above the $600 region as of this writing and it is expected to remain weak in the short term as the crypto market consolidates and decides the direction in which it wants to move in the medium term.

Forecast

Looking ahead to the rest of the day, there is no indication of any kind of momentum in the markets over the last few days and hence it is likely that the ranging would continue for today and over the weekend as well. The risk seems to be to the downside.