• Bitcoin and Ethereum showcased a bullish market structure on the 12-hour chart.
• Key retracement levels have been defended thus far, but a retest can’t be ruled out yet.

Bitcoin [BTC] and Ethereum [ETH] continued to trade within the short-term range. They have a bullish bias on the higher timeframe price charts, and whales were accumulating both assets at a rapid pace.

A recent AMBCrypto report highlighted that this accumulation could continue for some more time. Bitcoin has high amounts of liquidity close by, which could hinder attempts to break out in either direction.