Bitcoin and Ethereum: $25,000 remains a barrier to Bitcoin
- The bitcoin price still breaks through the $25,000 level today, climbing to $25,250.
- Ethereum again fails to climb above the $1720 level.
Bitcoin chart analysis
The bitcoin price still breaks through the $25,000 level today, climbing to $25,250. After which, we see a new pullback and a pullback below the $25000 level. We are now at the $24600 level and looking for support at $24500. We had a small pullback to $24000 yesterday and were able to consolidate and pull back. If by any chance, the price of Bitcoin falls back to $24000, a breakout below and continuation of the bearish option could occur.
We would look for the next support in the $23500-$23750 zone. For a bullish option, we need a break above $25000 and a minimum jump to $25500 so that we have room for the price to consolidate better above. With the next bullish impulse, we would see further recovery and growth in the price of Bitcoin.
Ethereum chart analysis
Ethereum again fails to climb above the $1720 level. Again we see a pullback below $1700 and a drop at the support of $1650. We will meet again soon in that support. We need a breakout below and continued negative consolidation for a bearish option. After that, we could expect the price to continue falling to lower levels.
Potential lower targets are $1600 and $1550 levels. We need a new break above the $1720 level for a bullish option. Then we need to maintain our position there, in order to start a further recovery of the price with a new impulse. Potential higher targets are $1750 and $1800 levels.