Bitcoin and Ethereum: The Bitcoin’s Price at $20,000
- Bitcoin price crisis continues to retreat to the $20000 level.
- Last night the price of Ethereum fell again to the $1500 level.
Bitcoin chart analysis
Bitcoin price crisis continues to retreat to the $20000 level. Today’s low is at the 20100 level; if the current scenario continues, we will see a break below. For the bearish option, we need a negative consolidation and below the $20,000 level. Then we need to stay below it and, with a new bearish impulse, start the continuation of the fall.
Potential lower targets are $19750, $19500, and $19000. For a bullish option, we need a new positive consolidation and the formation of a new bottom. Then we could expect the next bullish impulse and further recovery of the Bitcoin price. Potential higher targets are $20500 and $21000 levels.
Ethereum chart analysis
Last night the price of Ethereum fell again to the $1500 level. Since then, we have seen a minor recovery to $1550 and then a turn to the bearish side again. We need a negative consolidation and a drop below the $1500 level for a bearish option. Then we need to hold below and continue to pull back the price with the next bearish impulse.
Potential lower targets are $1450 and $1400 levels. For a bullish option, we need another positive consolidation and another return first above the $1550 level. Then we would again have the option to move up to the $1600 level. Staying in that zone would bring us closer to last week’s high at the $1650 level. Potential higher targets are the $1700 and $1750 levels.