Bitcoin and Ethereum: Bitcoin price still above $23000
- The price of Bitcoin climbed to the $23953 level last night and was very close to reaching the $24000 level.
- Ethereum price growth stopped yesterday at the $1660 level.
Bitcoin chart analysis
The price of Bitcoin climbed to the $23953 level last night and was very close to reaching the $24000 level. After that, the market became saturated, and we saw a pullback below the $23500 level. This morning’s bitcoin price decline was stopped at the $23120 level. For now, we manage to maintain ourselves at that level.
We need a negative consolidation and a further price drop to the $23,000 level for a bearish option. A price breakout below could take us back to last week’s support at the $22,500 level. for a bullish option, and we need a positive consolidation and a return above the $23750 level. This would put us in a good position to retest the $24,000 level with the next bullish impulse. Potential higher targets are the $24500 level.
Ethereum chart analysis
Ethereum price growth stopped yesterday at the $1660 level. After which, we see a pullback to the $1600 level. For now, we have support at that level and continue to move in the growing bullish channel. As long as we are in the channel, we can expect continued price recovery. We need a continuation of positive consolidation for a further bullish scenario.
Again, our target is the previous high at the $1660 level, and a break above it would be evidence of a potential recovery. Higher targets are $1675 and $1700 levels. We need a break below the lower channel line for a bearish option. After that, we could expect a further drop in the price of Ethereum. Potential lower targets are the $1550 and $1500 levels.
