Bitcoin and Ethereum: Bitcoin is moving above $23500
- After the weekend, bitcoin’s price was bullish yesterday until the $24000 level.
- Yesterday’s growth in the price of Ethereum was stopped at the $1665 level.
Bitcoin chart analysis
After the weekend, bitcoin’s price was bullish yesterday until the $24000 level. Then, we see a quick pullback to the $23250 level. The price is consolidating again and starting a new bullish impulse up to $23640. If this trend continues, we could revisit the $24,000 resistance level.
A price break above could extend this rally to the previous high at the $24500 level. For a bearish option, we need a negative consolidation and price pullback to support at the $23000 level. A drop below this support would mean a possible bigger pullback in Bitcoin price. Potential lower targets are $22750 and $22500 levels.
Ethereum chart analysis
Yesterday’s growth in the price of Ethereum was stopped at the $1665 level. This was followed by a pullback and a price drop to $1608. The price is consolidating again and rising to the $1630 level. We need positive consolidation and growth to the $1660 level for a bullish option.
Then we need a break above in order to climb to the $1680 level. If we managed to stay at that level, we would have a new opportunity to find ourselves above the $1700 level again. We need a negative consolidation and a price drop to the $1600 level for a bearish option. A price break below could move us to the next lower support at the $1550 level.
