Bitcoin chart analysis

The price of Bitcoin managed to break above the $36,000 level this morning. This was followed by a bullish impulse that pushed the price to the $36864 level.

We are currently stalling at that level and retreating to support at $36,600. We need to maintain above that level in order to continue to the bullish side. Potential higher targets are $37000 and $37200 levels.

For a bearish option, we need a negative consolidation and a drop below the support at the $36600 level. After that, the price could start a further pullback to $36,200, yesterday’s high price of Bitcoin. A fall below this level would lead to the formation of a new low. Potential lower targets are the $36,000 and $35,800 levels.

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Ethereum chart analysis

This morning, we saw a new spike in the price of Ethereum above the $1900 level. With a bullish impulse, we climbed to the $1930 level and formed a new four-month high price.

Let’s stop at that level for now, and Ethereum pulled back to the $1910 support level. If we don’t hold here, we could easily slip and retest the $1900 level. A pullback below $1900 would take us back to yesterday’s movement zone.

Potential lower targets are $1890 and $1880 levels. For a bullish option, we need positive consolidation and a return to the zone around the $1930 level.

Then, it’s important to move above that level and try to stay up there. If we succeed in that intention, we will be in a good position for the continued bullish side. Potential higher targets are the $1940 and $1950 levels.

(Click on image to enlarge)

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