Bitcoin and Ethereum: Bitcoin slips below $28000
- At one point yesterday, the price of Bitcoin retreated to the $26,842 level.
- Ethereum managed to slip below $1800 yesterday and form a new lower low at the $1790 level.
Bitcoin chart analysis
At one point yesterday, the price of Bitcoin retreated to the $26,842 level. We were down for a short time, followed by a return to the $27,500 level. We had one more attempt to reach the $28000 level, and we just managed to test that level and pull back. Current consolidation has moved below the 27500 level with support at the $27300 level.
There is still bearish pressure that could push the price of Bitcoin back below the $27,000 level. The EMA50 moving average is currently high in the zone, around the $28,200 level. And we need a break above to return to the bullish side. If we managed to do that, we would have a good position for further recovery.
Ethereum chart analysis
Ethereum managed to slip below $1800 yesterday and form a new lower low at the $1790 level. We were down for a short time, but the price recovered quickly and jumped to the $1860 level. There we meet resistance again and start an ongoing bearish consolidation. The current price is $1825, and we are on our way to revisit the $1800 support level.
Potential lower support targets are $1780 and $1760 levels. We need a positive consolidation and price stabilization above the $1840 level for a bullish option. With a new impulse from that level, we could start a price recovery. Potential higher targets are the $1860 and $1880 levels.