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- Yesterday, the price of Bitcoin managed to climb up to the $19710 level, which was followed by a new pullback.
- The price of Ethereum stopped at the $1340 level yesterday.
Bitcoin chart analysis
Yesterday, the price of Bitcoin managed to climb up to the $19710 level, which was followed by a new pullback. We are again looking towards the $19000 level, and we may see a break below. For a bearish option, we need a continuation of the negative consolidation and a fall in the price of Bitcoin below the $19000 level.
After that, we enter the critical zone because there could be a faster price slide toward lower levels. Potential lower targets are $18500 and $18000 levels. For a bullish option, we need a new positive consolidation and a return of the price to yesterday’s high at the $19700 level.
Then, we need to hold on to that zone if we want to see the recovery continue. With a new bullish impulse, the price would rise to $20000. Potential higher targets are $20250 and $20500 levels.
Ethereum chart analysis
The price of Ethereum stopped at the $1340 level yesterday. There, the price encountered strong resistance, and a pullback followed, which continued today. Ethereum is now trying to hold on to the $1300 level, but there is every chance that it will go down to the $1270-$1280 support zone. If we can’t find support there either, the price could continue to slide down. Potential lower targets are $1260 and $1240 levels.
For a bullish option, we need a new positive consolidation from which a new bullish impulse would emerge. Our first target is again yesterday’s high at the $1340 level, and then we need to try to stay there. After that, with a new bullish impulse, it could move us higher. Potential higher targets are $1380 and $1400 levels.
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