Bitcoin and Ethereum: This week's consolidation continues

Yesterday’s jump in the bitcoin price was all the way to the $23815 level.
After yesterday’s crash, Ethereum hovered around the $1550 level.

Bitcoin chart analysis

The bitcoin price jump yesterday was all the way to the $23815 level. Very quickly we went back to the area of the previous consolidation. The price is now around $23,000; If we see a pullback again, it could go to the $22,500 level. Our fund supports this week’s sideways consolidation. A break below would mean that we could see a deeper drop.

We look for the first subsequent support at $22,000. And if she doesn’t last either, we’ll be back in the movement zone of last week. We need positive consolidation and a break above the $23500 level for a bullish option. Then it would also be nice to stay up there and, with the next first impulse, trigger the price of Bitcoin to rise. A higher potential target is the $24000 level.

Ethereum Chart Analysis

After yesterday’s crash, Ethereum hovered around the $1550 level. In the afternoon, some bullish momentum brought us back towards the area around the $1600 level. Today, the Ethereum price managed to maintain that level. Currently, we have less pressure that could influence the price to drop back towards the $1550 level. If the price breaks out of that instability, we could expect a bullish option continuation.

So we need to go to the $1650 level and try to consolidate above there. With this, we would form a new bottom from which, with the next bullish impulses, we would initiate further price growth. The highest potential targets are the $1,675 and $1,700 levels.