Bitcoin and Ethereum: Bitcoin jumps above $28000
- Bitcoin climbed to the $28567 level this morning.
- During the weekend, the price of Ethereum jumped to the $1846 level.
Bitcoin chart analysis
Bitcoin climbed to the $28567 level this morning. A weak dollar earlier this week pushed the price of bitcoin to a nine-month high. The previous time the bitcoin price was at that level was in June last year. If the price manages to hold above the $28,000 level, Bitcoin could climb to the $30,000 level.
If we are considering a bearish option, we need a price pullback below $27000 and a negative consolidation that would take us even lower. Potential lower targets are the $26,000 and $25,000 levels.
Ethereum chart analysis
During the weekend, the price of Ethereum jumped to the $1846 level. After that, we see a consolidation and pullback to the $1744 level. Ethereum is consolidating again and finding support there. Then, we see a positive consolidation in the recovery to the $1800 level. We need further positive consolidation and a move above the $1800 level for a bullish option.
Then we need to stay up there and start the continuation of the price increase with a new impulse. Potential higher targets are the $1850 and $1900 levels. We need a negative consolidation and a price drop to the $1750 level for a bearish option. This way, the price would start to pull back and form a new low. Potential lower targets are $1725 and $1700 levels.
