- Earlier this morning, there was a drop in the price of Bitcoin from $23,600 to $22,250.
- Ethereum price falls $122, from $1660 to $1538 in just one hour.
Bitcoin chart analysis
Early this morning, there was a drop in the price of Bitcoin from $23,600 to $22,250. In just one hour, Bitcoin lost 5.0% of its value. We are currently hanging on to a slight rally to the $22,500 level. for a bullish option, we need a continuation of positive consolidation and growth to the $23000 level.
Then we also need to see a breakthrough up top and try to hold there. After that, we would have an opportunity to continue the rally with the next bullish momentum. The higher potential targets are the $23250 and $23500 levels.
Ethereum Chart Analysis
Ethereum price falls $122, from $1660 to $1538 in just one hour. The price is trying to recover, and we see a bit of a push towards the $1565 level. If we can see a consolidation at this level, the price could trigger a push to the $1600 level. Anything below the $1650 level could be considered negative territory.
We need negative consolidation and a further pullback below the $1550 level for a bearish option. This would lead to the possible formation of a lower low, which means that we could continue to slide lower. The lower potential targets are the $1,525 and $1,500 levels.
