Bitcoin and Ethereum Jump to the Higher Level Today
- At the beginning of today’s trading day, the price of bitcoin jumped from $19,000 to the $20,000 level.
- The price of Ethereum managed to reach the $1400 level again after a week.
Bitcoin chart analysis
At the beginning of today’s trading day, the price of bitcoin jumped from $19,000 to the $20,000 level. For now, it manages to stay above, and the current high is the $20380 level. The US session has started, so there could be a pullback and potential formation of a higher low. If we could manage to stay above the psychological $20,000, that would be of great help to us. To continue, we need positive consolidation, and the targets are $20,500 and $21,000. For a bearish option, we need a negative consolidation and a new drop in price against this support. We would again be facing the $19000 support level. Potential targets are $18,500 and $18,000 levels.
Ethereum chart analysis
The price of Ethereum managed to reach the $1400 level again after a week. For now, we are unable to climb above and are moving a little below this level at $1385. This morning we had a strong bullish impulse that moved the price of Ethereum from 1320 to the $1400 level. For a bullish option, we now need a continuation of this positive consolidation and a move above this resistance. Then we should stay above and try to continue this bullish trend today. Potential higher targets are $1450 and $1500 levels. We need negative consolidation and a return to this morning’s support zone for a bearish option. Again, we would probably return to $1300 and look for new support. Potential lower targets are $1250 and $1200 levels.
