Bitcoin chart analysis

Over the weekend, Bitcoin price continued to retreat to this morning’s low of $19140. The price has now recovered a little and reached $19,340. For a bullish option, we need a new positive consolidation and a return to the resistance zone around the $20,000 level. After that, we need to hold on there and try to climb above $20500, the next resistance level. If we succeed in this, the bitcoin price would have a chance to move toward the $21,000 level. For a bearish option, we need a continuation of this negative consolidation and a drop to the $19,000 support level. If we fail to find support there, the price could drop and test the $18,000-$18,500 support zone.

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Ethereum chart analysis

The Ethereum price fell to the $1300 level this morning but managed to find support there and move up to the $1315 level. A strong dollar still does not allow cryptocurrency prices to rise but exerts pressure and directs them to lower support levels. We need a continuation of the negative consolidation and a drop below the $1300 level for a bearish option. After that, Ethereum would probably go down to the $1250 support level. Such a move would further increase the pressure on the price, which could fall below and form a new lower low. For a bullish option, we need a better positive consolidation and a move toward the $1350 level. Then we need to stay there and try to continue with the recovery. The next target is the $1400 level; we failed to climb above it in the previous two attempts.

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