Bitcoin and Ethereum: Bitcoin is back below $28,000
- The price of Bitcoin jumped again above the $28500 level yesterday.
- Yesterday, Ethereum formed a new higher high at the $1859 level, after which the price started a pullback.
Bitcoin chart analysis
The price of Bitcoin jumped again above the $28500 level yesterday. Yesterday’s high price was at the $28800 level. Since then, bitcoin has retreated to the $28,000 level. for a bullish option; we need a positive consolidation and a move to the $28400 level. This would bring us closer to the $28,500 level again.
A price break above would add to the optimism for continued Bitcoin price growth. Potential higher targets are the $29,000 and $29,250 levels. We need a negative consolidation and a drop to the $27800 level for a bearish option. With such a move, we would break the support at the $28,000 level. This could mean a slowdown in growth and a price pullback to $27,000, where the EMA 50 moving average is waiting for us.
Ethereum chart analysis
Yesterday, Ethereum formed a new higher high at the $1859 level, after which the price started a pullback. Today’s low price was at the $1729 level, and there is a high chance that we could break below. Yesterday’s price support was the $1715 level, and we may visit it again. for a bullish option, we need a new positive consolidation and a return above the $1775 level.
That would bring us back above the EMA moving average, and we would get its support. A break above the $1830 level and staying above it would be desirable if we want to see continued recovery and the formation of a new higher high.