- The bitcoin price was above the $24,000 level on two occasions yesterday.
- Ethereum price managed to break above the $1700 level yesterday.
Bitcoin chart analysis
The bitcoin price was above the $24,000 level on two occasions yesterday. A pullback below the $23500 level then followed. For the first part of the day, the price managed to hold on to that level. We need negative consolidation and a pullback to the $23000 support level for a bearish option. A price break below could take us to the next two-week lower support at the $22,500 level.
We need positive consolidation and a return to the $24,000 level for a bullish option. So we have to move upstairs and try to stay there longer. After that, we could expect the next bullish momentum and the continuation of Bitcoin price growth.
Ethereum Chart Analysis
The Ethereum price managed to break above the $1700 level yesterday. This created a new high for this year at the $1715 level. We did not stay there for long, and a pullback to the $1650 level followed. Today we move around that level without major swings. We need negative consolidation and a drop below the $1625 level for a bearish option.
A possible lower support target is at $1600 and the lower line of the ascending channel. We need positive consolidation and a move to the area around the $1680 level for a bullish option. With that, we would make the first move closer to the $1700 level. An earlier breakdown would be very helpful for us to amplify the upside potential of Ethereum price. The highest potential targets are the $1,725 and $1,750 levels.
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