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.
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.