Bitcoin and Ethereum: Bitcoin’s Price At The $21085 Level
- Over the weekend, the price of Bitcoin formed a new higher high at the $21085 level.
- Over the weekend, the price of Ethereum formed a new higher high at the $1662 level.
Bitcoin chart analysis
Over the weekend, the price of Bitcoin formed a new higher high at the $21085 level. This morning, the price fell to the $20500 level, where we have support from which a new bullish impulse took place, which raised the price to the $20830 level. We need a positive consolidation and a return to the $21000 resistance level for a bullish option. After that, we must stay above and continue the recovery with a new bullish impulse.
Potential higher targets are $21500 and $22000 levels. We need a negative consolidation and a drop to today’s support at the $20500 level for a bearish option. We need a break below, and after that, the price could go down to the $20000 level. A price break even below this level could trigger a deeper retreat in the price of Bitcoin. Potential lower targets are $19,500 and $19,000 levels.
Ethereum chart analysis
Over the weekend, the price of Ethereum formed a new higher high at the $1662 level. Since then, the price has pullback and stopped at the $1563 level. We are consolidating again, and with a new bullish impulse, the price rises above the $1600 level. We need positive consolidation and a return to the resistance zone at the $1650 level for a bullish option. Then we need to stay up there and try to break above. Potential higher targets are $1675 and $1700 levels.
We need a negative consolidation and a new pullback below the $1600 level for a bearish option. After that, the price could form a new lower low around the $1550 level. Increased pressure at that level could cause the price to start a further retreat. Potential lower targets are $1500 and $1450 levels.
