Bitcoin and Ethereum: Bitcoin falls to the $28000 level
- Bitcoin price failed to break above the $29000 level yesterday.
- Ethereum price continues to fall below the $2000 level.
Bitcoin chart analysis
Yesterday bitcoin price failed to break above the $29000 level. On the contrary, the price began to retreat yesterday and continues today. The fall has been stopped at the $27828 level for now, and Bitcoin has returned from the $28000 level. If he could now get new support here, he would have a new opportunity to start a bullish recovery. Potential higher targets are $28,500 and $29,000 levels. We need a negative consolidation and a new test of this morning’s low for a bearish option. A price break below would lead to the formation of a new lower low. Potential lower targets are $27750 and $27500 levels.
Ethereum chart analysis
Ethereum price continues to fall below the $2000 level. This morning the price fell to the $1896 level. This is how this week’s new low was formed. Chances are high that we will see a continuation of the Ethereum price pullback until the next support. Potential lower targets are the $1880 and $1860 levels. We need a new positive consolidation and price movement above the $1950 level for a bullish option. Then we need to hold on above in order to form a new bottom from which we would start our recovery. Potential higher targets are $1975 and $2000 levels.
