- Since the day started, bitcoin has been pulling back from $28,100 and we got support at the $27,800 level.
- The Ethereum price fell to the $1840 level this morning.
Bitcoin chart analysis
Since the day started, bitcoin has been pulling back from $28,100 and we got support at the $27,800 level. For now, we have managed to stay above that level and start a shorter rally to the $27,900 level. If this rally continues, the price could rise back to $28,000.
In order to continue to be bullish, we need to grow to the $28200 level and stay there to consolidate before the next push to the upside. The higher potential targets are the $28300 and $28500 levels. We need negative consolidation and a pullback below the $27800 support level for a bearish option. If we were to look at it, the lower potential targets would be the $27700 and $27600 support levels.
Ethereum Chart Analysis
The Ethereum price fell to the $1840 level this morning. The price receives support at the EMA50 4-hour moving average. Since then, we have been in a bullish consolidation and rally to the $1860 level. Assuming this consolidation continues, Ethereum could rally to the $1880 level. to continue with the bullish option.
In that case, we need to stay up there to start a further rally on the next push. The highest potential targets are the $1,900 and $1,920 levels. We need negative consolidation and a pullback to this morning’s EMA50 SMA support for a downside option. A price break below could create uncertainty and the pullback could continue. The lower potential targets are the $1830 and $1820 levels.
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