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Bitcoin and Ethereum: The Price of Bitcoin Rose To $21,000

  • The price of bitcoin rose to the $21,000 level yesterday, forming a new higher high since September 13.
  • The price of Ethereum is retreating today from yesterday’s high of $1595.

Bitcoin chart analysis

The price of bitcoin rose to the $21,000 level yesterday, forming a new higher high since September 13. Today we see a pullback from yesterday’s high at the $20500 level. At the $20500 level, the price could ask for new support, and thus we would see a retest to the previous breakout point. 

For a bullish option, we need a new positive consolidation and a return to the previous high at $21000. Then we need to see a breakout above and try to stay up there. With a new bullish impulse, we could see a continuation of the recovery. Potential higher targets are $21500 and $22000 levels. 

For a bearish option, we need a negative consolidation and continued pullback to the $20,000 level. After that, we need the price to drop below, which would signify that a continuation of the price pullback could happen. Potential lower targets are $19500 and $19000 levels.

Bitcoin chart analysis

Ethereum chart analysis

The price of Ethereum is retreating today from yesterday’s high of $1595. Today’s low price of Ethereum is $1537. For a bearish option, we need a continuation of this negative consolidation and a further pullback to lower support levels. Very important support is at the $1500 level, and if a drop below occurs, the price could go deeper. 

Potential lower targets are $1450 and $1400 levels. The $1400 level is very important for further determining the future trend. For a bullish option, we need a positive consolidation and a return to the $1600 level for a new test. 

Then we need a breakout above and try to hold up there. After that, we need a new impulse that would move the price to the next higher level. Potential higher targets are $1650 and $1500 levels.

Ethereum chart analysis



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