- We saw another bearish momentum yesterday and the price pull back below the $22000 level.
- The fall in the price of Ethereum was stopped yesterday at the level of $1525.
Bitcoin chart analysis
We saw another bearish momentum yesterday and the price pull back below the $22000 level. The low price this morning was at the $21620 level. We are still below the $22000 level, and the bearish pressure is still there and could affect Bitcoin price further. For a bearish option, we need a continuation of negative consolidation and a test of the next support level at $21,500.
If we do see a breakout below, a potential lower target is the $21,000 level. For a bullish option, we need positive consolidation and price return above the $22,500 level. So we have to hold there and try to go to the $23,000 level. With further bullish consolidation, we could continue the rally. The higher potential targets are the $23,500 and $24,000 levels.
Ethereum Chart Analysis
The fall in the price of Ethereum was stopped yesterday at the level of $1525. We then saw a short-term rally to the $1550 level. Again, we now have Ethereum price pressure and a continuation to the downside, and a test of the $1500 level could be expected.
We need positive consolidation and a return to the $1575 level for a bullish option. Thus we would form a new support zone from which we would have more possibilities to see a possible recovery. The highest potential targets are the $1,600 and $1,625 levels.
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