- The bitcoin price is still above the $25,000 level today, rising to $25,250.
- Ethereum again fails to rise above the $1720 level.
Bitcoin chart analysis
The bitcoin price is still above the $25,000 level today, rising to $25,250. After which, we see a pullback again, and a pullback below the $25000 level. We are now at the $24,600 level, looking for support at $24,500. We had a bit of a pullback to $24000 yesterday and were able to consolidate and pull back. If by any chance, Bitcoin price falls back to $24000, a break below and bearish option continuation could occur.
We would look for the next support in the area of $23,500-$23,750. For a bullish option, we need a break above $25,000 and a minimum jump to $25,500 so that we have room for the price to better consolidate above. With the next bullish momentum, we would see further recovery and growth in the price of Bitcoin.
Ethereum Chart Analysis
Ethereum again fails to rise above the $1720 level. Again we see a pullback below $1700 and a drop to the $1650 support. We will meet again soon in that support. We need a break below and continued negative consolidation for a bearish option. After that, we could expect the price to continue to fall to lower levels.
The lower potential targets are the $1600 and $1550 levels. We need a fresh break above the $1720 level for a bullish option. So we need to hold our position there, to kick off a further price rally with fresh momentum. The higher potential targets are the $1750 and $1800 levels.
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