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BTC Prices Continue to be Choppy
Fundamentally, there has not been any major developments in the BTC industry with most of the regulators and authorities looking to go after the ICO industry as it comes under extra scrutiny in the US. The regulators seem to have done and achieved what they wanted with the BTC industry and hence the shift in focus. This is also one of the reasons for the choppiness in the prices as most of the developments over the last few months have now been factored into the prices and there appears to be a sense of median in the prices for now, which has led to uncertainty on what the correct prices are.
The ETH prices continue to be under pressure, as they have been over the past couple of weeks and it looks as though it is likely to continue in the short term. The regulator watch on the ICOs around the world is also likely to have an impact on the ETH prices and keep it near the lows of the range. It has been unable to string together a bullish run and this has in turn led to a lack of confidence.
Looking ahead to the rest of the day, with the consolidation and a bullish leg completed, which has since been corrected, we believe that we are in for another period of consolidation and ranging in both the BTC and ETH markets over the next couple of days.