Bitcoin and Ethereum: Bitcoin slipped below the $27,000
- The price of Bitcoin reached $27,000 again this morning.
- The price of Ethereum fell below the $1900 level this morning.
Bitcoin chart analysis
The price of Bitcoin reached $27,000 again this morning. Yesterday’s consolidation kept the price above $27600, but it doesn’t seem to have been enough to stay above. For now, we have support at $27000, and Bitcoin has recovered slightly to $27200.
With the continuation of the positive consolidation, we would have the opportunity to spin up to the previous support at $27600. If we hold above, then we could see further recovery and a return to the $28,000 level. We need a negative consolidation and a drop below the $27000 support level for a bearish option. Potential lower targets are $26800 and $26600 levels.
Ethereum chart analysis
The price of Ethereum fell below the $1900 level this morning. A low was formed at the $1860 level, and we remain above it for now. We have additional support at this level in the EMA50 moving average. This could trigger a continuation of the recovery and take us back to the $1900 level.
Then we would have to hold our own up there if we plan to initiate a continued recovery. We need a negative consolidation and a drop below the $1860 level for a bearish option. Such a move would mean that we will see a further pullback in price. Potential lower levels are the $1850 and $1840 levels.