Bitcoin and Ethereum: Bitcoin is holding at $23500
- Today’s Bitcoin price movement is just above the $23500 level.
- This morning, Ethereum tried to climb above the $1680 level but was unsuccessful.
Bitcoin chart analysis
Today’s Bitcoin price movement is just above the $23500 level. We see an increase in bearish pressure that could take us down to the $23000 support level. The reason for this is that the dollar index has stabilized. A break below could extend the bearish option.
We need a positive consolidation and a return to the zone around the $24000 level for a bullish option. Then we need a breakout above and try to stay up there. A new impulse would trigger a continuation of the recovery, and the potential higher targets are the $24250 and $24500 levels.
Ethereum chart analysis
This morning, Ethereum tried to climb above the $1680 level but was unsuccessful. A pullback followed, and the price returned to the $1650 level. Now we are back at the starting position. For a bullish option, we need a new positive consolidation and a new test of the $1680 level.
A break above would benefit us as we could reach the $1700 level and be very close to testing this year’s high at $1743. We need a negative consolidation and a price drop to the $1600 support level for a bearish option. If we fall below that support, prices could continue the bearish option. The potential target is the $1550 level.
