Bitcoin and Ethereum: Bitcoin at $24000 again
- Bitcoin climbed to the $24,000 level this morning.
- The price of Ethereum jumped to the $1670 level this morning.
Bitcoin chart analysis
Bitcoin climbed to the $24,000 level this morning. Now we see price growth decelerating and possible consolidation. We need to break above and stay above if we plan to move towards the $24500 previous resistance. If we succeed in that intention, we would then be very close to testing the $25000 level.
We need a negative consolidation and price pullback to the lower support at the $23000 level for a bearish option. A price breakout below could test the previous low at $22750. Potential lower targets are $22500 and $22250 levels.
Ethereum chart analysis
The price of Ethereum jumped to the $1670 level this morning. Despite the pullback to the $1660 level, we are still in a bullish consolidation. We may soon see a jump to $1680, the previous resistance. A price break above would bring us significantly closer to the $1700 level.
Even worse, we would have a better chance to try to test the February high at the $1743 level. We need a pullback below the $1640 level for a bearish option. After that, the price would be directed towards the previous $1600 support level. A fall below this support level could bring us down to the $1550 level, and thus we would be significantly away from the bullish trend.
