Bitcoin and Ethereum: Bitcoin retreats below $25000
- The price of Bitcoin jumped to $26392 yesterday.
- Yesterday’s high price of Ethereum was at the $1783 level.
Bitcoin chart analysis
The price of Bitcoin jumped to $26392 yesterday. It did not stay at that level and was followed by a pullback to the $24,000 level. After that, we see a recovery that brings the bitcoin price back to $25,000. Now we are trying to hold around that level in order to consolidate and start a new bullish recovery.
For a bearish option, I need a continuation of the current negative consolidation and a drop to the previous support at $24000. a price break below would mean we could see a further pullback to some lower support. Potential lower targets are $23500 and $23000 levels.
Ethereum chart analysis
Yesterday’s high price of Ethereum was at the $1783 level. After that, we see a pullback below the $1700 level. The price tried to get back above $1700 again, but that recovery didn’t last long. The price again fell below the $1700 support level, and today’s low price is $1660. Recovery followed once again, but only up to the $1690 level.
For the bearish option, we need a break below the $1650 level for further continuation to the bearish side. Potential lower targets are $1625 and $1600 levels. We need to get back above the $1700 level for a bullish option and try to hold there before the next bullish impulse.
