Bitcoin chart analysis

Finally, we saw a breakout from the previous consolidation yesterday, and Bitcoin jumped to the $28180 level. After that, there was a pullback to the $27360 level, and now we are trying to consolidate there and form a new bottom at that level. If we succeed in this, we could start a new bullish consolidation. Our goal is to return above the $28,000 level again. Potential higher targets are $28400 and $28600 levels.

We need a negative consolidation and a price drop below the $27400 support level for a bearish option. In the future, we could expect the price to start with a further retreat. Potential lower targets are $27200 and $27000 levels. EMA50 moving average is in the zone around the $26600 level.

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Ethereum chart analysis

The price of Ethereum jumped to the $1745 level yesterday, forming a two-week high. The price starts pulling back from that position and goes down to the $1715 level. The current consolidation tells us that we could see a break below and a visit to the $1700 level. This is where we would look for the next potential support.

A drop below $1700 would mean that the price has no more strength, and we will see a continuation to the bearish side. Potential lower targets are $1680 and $1660 levels. Additional price support could be in the EMA50 moving average around the $1680 level.

We need a positive consolidation and stabilization above $1720 for a bullish option. After that, we could expect the price to initiate further recovery and visit yesterday’s high. Potential higher targets are $1760 and $1780 levels.

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