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Bitcoin and Ethereum: A new decline in the price of BTC

  • Over the weekend, the price of Bitcoin was stable around the $16,500 level.
  • Over the weekend, the price of Ethereum hovered slightly below the $1225 level.

Bitcoin chart analysis

Over the weekend, the price of Bitcoin was stable around the $16,500 level. As monday began, a bearish impulse was launched that lowered the price to the $16050 level. Bitcoin is now testing the support at the $16000 level. The pressure has moved to a support level; if we stay here for a long time, we could see a breakout below. Potential lower targets are $15750 and $15500 levels.

For a bullish option, we need a positive consolidation and a return to $16500, the previous movement zone. If we were to succeed in that, then it is necessary for us to stay up there and, with a new bullish impulse, start further recovery. Potential higher targets are $16750 and $17000 levels.


Bitcoin chart analysis

Ethereum chart analysis

Over the weekend, the price of Ethereum hovered slightly below the $1225 level. At the beginning of the week, there was a bearish impulse that brought the price below $1200. This morning’s support is at the $1160 level, and for now, the price manages to hold above. For a bullish option, we need a positive consolidation and a return again above the $1200 level.

A break above could trigger a further recovery above the $1225 level. And potential higher targets are the $1250 and $1275 levels. For a bearish option, we need a negative consolidation and a price breakout below the $1150 support level. Then we need to hold down there for the bearish trend to continue. Potential lower targets are $1125 and $1100 levels.

Ethereum chart analysis

 

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