BTC Prices Steady
Now that the prices are clear of the $6800 region, the prices would now start to look higher with the next target being the $8000 region. Traders have to be careful about the correction that could happen as the prices might try to revisit the broken highs of the previous range and if and when that happens, that would be the ideal opportunity for the traders to buy some BTC for the next move higher. They also need to ensure that they place the stop losses at the correct areas so that they would be in a position to get out of the market if the prices and the market decides to fall back into the range once again.
The ETH prices have also corrected lower and they seem to be in a lot of pressure when compared to the BTC market. The ETH network is under high pressure to perform with many other networks and coins like EOS beginning to openly challenge them. These are going to be interesting times in the days ahead and it is important for the ETH market to continue pushing up to maintain its relevance.
Looking ahead to the rest of the day, we expect some ore consolidation and ranging as the traders try their best to hold on to the gains and also prepare themselves for the next move higher.