- Bitcoin price has been stable in the last two days and is moving in the range of $20300-20600.
- The price of Ethereum continues the bearish consolidation that started last week.
Bitcoin chart analysis
Potential lower targets are $19,500 and $19,000 levels. We need a positive consolidation and a return to the $21000 resistance level for a bullish option. Then we need to hold on there and try to break above the $21000 level. After that, we need a new bullish impulse to continue the bitcoin recovery further. Potential higher targets are $21500 and $22000 levels.
Ethereum chart analysis
The price of Ethereum continues the bearish consolidation that started last week. Today’s low was at the $1535 level, and we could expect a continuation of the decline to the $1500 support level. In the previous attempt, the price of Ethereum found that support and climbed up to the $1650 level. If we could do the same now, the price would have a new chance to continue the bullish option. It is necessary to first climb up to the $1600 level and try to stay there for a certain period of time.
Should we succeed in this, the next thing we need is a new bullish impulse to continue the recovery. Potential higher targets are the $1700 and $1750 levels. We need a negative consolidation and a test of the $1500 support level for a bearish option. A break below would increase price pressure, and we would likely see a continuation of the decline. Potential lower targets are $1450 and $1400 support levels.
BONUS VIDEO: Weekly news summary from the markets