Bitcoin and Ethereum: Bitcoin price drops to $22500
- Early this morning, there was a drop in the price of Bitcoin from $23600 to $22250 level.
- The price of Ethereum drops by 122$, from 1660$ to 1538$ level in just one hour.
Bitcoin chart analysis
Early this morning, there was a drop in the price of Bitcoin from $23600 to $22250 level. In just one hour, Bitcoin lost 5.0% of its value. We are currently hanging a slight recovery to the $22500 level. for a bullish option, we need a continuation of positive consolidation and growth to the $23000 level.
Then we also need to see a breakthrough above and try to hold on there. After that, we would have the opportunity to continue the recovery with the next bullish impulse. Potential higher targets are $23250 and $23500 levels.
Ethereum chart analysis
The price of Ethereum drops by 122$, from 1660$ to 1538$ level in just one hour. The price is trying to recover, and we see a minor push to the $1565 level. If we manage to see consolidation at this level, the price could trigger a bullish impulse to the $1600 level. Anything below the $1650 level could be considered to be in negative territory.
We need a negative consolidation and a new pullback below the $1550 level for a bearish option. This would lead to the potential formation of a lower low, meaning we could continue to slide down. Potential lower targets are $1525 and $1500 levels.
