Bitcoin and Ethereum: Bitcoin struggles at $28500
- Over the weekend, the price of Bitcoin was in retreat from $28,800 to $28,000.
- Ethereum price pulled back to support at the $1764 level this morning.
Bitcoin chart analysis
Over the weekend, the price of Bitcoin was in retreat from $28,800 to $28,000. As Monday began, the price dropped sharply to the $27,600 level. After that, we see consolidation and the initiation of a bullish impulse, and recovery to the $28400 level. For now, we are hovering around that level, and if we manage to stay up there, we will be in a good position to continue the recovery.
Potential higher targets are $28600 and $28800 levels. We need a new negative consolidation and price pullback below the $28,000 level for a bearish option. Then we would be able to visit the previous low. Potential lower targets are $27500 and $27250 levels.
Ethereum chart analysis
Ethereum price pulled back to support at the $1764 level this morning. Very quickly, the price consolidated and started a bullish recovery. We are back above the $1800 level again and are managing to hold on there for now. Potential higher targets are $1825 and $1850 levels.
We need a negative consolidation and pullback prices below the $1800 level for a bearish option. In the zone around $1790, we have support in the EMA20 and EMA50 moving averages. a drop below them would likely see us move down to lower support levels. Potential lower targets are $1775 and $1750 levels.
