Bitcoin and Ethereum: Bitcoin back below $24000
- After Bitcoin fell to the $23,580 level yesterday, a jump to the $24,600 level followed.
- Yesterday, the price of Ethereum dropped to the $1600 level.
Bitcoin chart analysis
After Bitcoin fell to the $23,580 level yesterday, a jump to the $24,600 level followed. Price fails to hold up there and makes another pullback back to yesterday’s support zone. For the second day in a row, we have pressure at this point, which could lead to a breakout below and a continuation of the bearish trend.
Potential lower targets are $23250 and $23000 levels. For a bullish option, I need a new positive consolidation and a return to the previous resistance zone around the $24600 level. Then we need to maintain ourselves up there and start a further recovery with the next impulse. Potential higher targets are $24750 and $25000 levels.
Ethereum chart analysis
Yesterday, the price of Ethereum dropped to the $1600 level. After which, we see a jump and recovery to the $1680 level. The price again encounters resistance and initiates a negative consolidation. We are currently at the $1635 level, and we could expect to see a further drop in the price of Ethereum.
Potential lower targets are $1600 and $1550 levels. We need a new positive consolidation and a return above the $1680 level for a bullish option. Then we need to stay up there and start further recovery with a new impetus. Potential higher targets are the $1700 and $1725 levels.
