Cryptocurrency Price Forecast for Bitcoin, Ethereum

 Bitcoin pulling back towards support zone, but still has room for more weaknessBitcoin (BTC/USD) continues to slump after a failed attempt to run back to the high set in December. Relatively speaking, given the extremely high level of volatility, it wouldn't take much of a decline to reach down into support we discussed last week . Looking lower, there is horizontal support by way of the December 30 low, but of even bigger interest is the slope running higher since May and December 22 swing-low. This critical support zone arrives in the vicinity of 11750/160. This would be an attractive spot to see BTC/USD find a bid and start pushing back higher. A break below and a much deeper decline may ensue. We'll update on this as price action unfolds…See how retail traders are positioned in Bitcoin and what it might mean - IG Client Sentiment page.BTC/USD: Daily 

 Ethereum relentless rise brings top-side trend-line into focus, pullback could finally be nearEthereum (ETH/USD) rally is at risk with a top-side trend-line sitting just over today's high. Given the extraordinary momentum in crypto's, it's unclear how meaningful the top-side line will be. Risk of an 'overthrow' (where price extends beyond the slope) is elevated. But on the flip-side, the rise from just under $500 at the December low into the $1380s does suggest it is overdone in the short-run, so the top-side trend-line may be all it takes to at least cause ETH/USD to consolidate, if not experience a sharp pullback altogether. The first line of support arrives at the trend-line off the Dec 22 low, and below there we'll be looking to the Dec high at 863. If Ethereum is to continue trekking higher, a correction in price or time will be a welcomed event for traders looking to enter.ETH/USD: Daily