Bitcoin and Ethereum: Bitcoin drops below $27000 again
- Bitcoin price continues the negative consolidation that started on Monday.
- Yesterday’s bullish consolidation for Ethereum ended this morning at the $1836 level.
Bitcoin chart analysis
Bitcoin price continues the negative consolidation that started on Monday. This morning’s recovery attempt was stopped at the $27,200 level. There we encounter resistance, and the price starts a new retreat. We are now back below the $27000 level with current support at the $26800 level. The current pressure on the price could trigger a further decline to the next lower support. Potential lower targets are $26600 and $26400 levels. We need a positive consolidation and a return above the $27000 level for a bullish option. Then we need to keep up there so that we can start the recovery with a new impulse. And the potential higher targets are the $27200 and $27400 levels.
Ethereum chart analysis
Yesterday’s bullish consolidation for Ethereum ended this morning at the $1836 level. From that moment, the price begins to retreat, forming a new low at the $1802 level. We can say that we are testing the support at the $1800 level and that we need to hold above it. We need a positive consolidation and a return above the $1820 level for a bullish option. If we manage that, we will get additional support in the EMA50 moving average. Potential higher targets are the $1840 and $1860 levels.
