Bitcoin and Ethereum: Bitcoin is stable above $27500
- The price of Bitcoin received support at the $27600 level yesterday.
- Yesterday’s Ethereum price pullback was stopped at the $1880 level.
Bitcoin chart analysis
The price of Bitcoin received support at the $27600 level yesterday. From that moment, we see a bullish consolidation and a slight price recovery. The current price is $27,800, and we are on our way to climb to the $28,000 level. Then we need a breakthrough above and stay up there.
After that, we could initiate further consolidation and test the previous high at the $28452 level. Potential higher targets are $28600 and $28800 levels. For a bearish option, we need a negative consolidation and pullback to support at $27600. a drop below would increase the pressure on the price to continue sliding even lower. Potential lower targets are $27400 and $27200 levels.
Ethereum chart analysis
Yesterday’s Ethereum price pullback was stopped at the $1880 level. Since then, we have been in a bullish consolidation, and now the price is above $1900. Ethereum could test the previous high at the $1927 level if the current consolidation continues. Potential higher targets are the $1940 and $1950 levels.
We need a drop out of yesterday’s support level for a bearish option. After that, we could see a further decline in prices. Potential lower targets are the $1870 and $1860 levels.