Bitcoin chart analysis

The price of Bitcoin is slowly moving away from the $44000 level. At one point yesterday, we fell to the $42,800 level. Since then, we have been in a sideways consolidation in the $42800-$43800 range. We are under more pressure as we are now closer to the lower support level, which could affect us seeing a new test of support. A break below would lead to the formation of a new low, and thus, we would have confirmation of the bearish option. Potential lower targets are $42400 and $42000 levels.

We need a positive consolidation and price movement to the $44000 level for a bullish option. By crossing above, we would return to the bullish path again. With the new impulse, we would have the opportunity to initiate further growth and test the previous high from the beginning of the week. Potential higher targets are $44400 and $44800 levels.

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Ethereum chart analysis

The chart picture of Ethereum is different compared to Bitcoin, as this morning, we saw the price jump to the $2392 level. For now, we are staying below that level, and the price is making a certain pullback to the $2350 level. We are currently in that zone, hoping to hold on and move on to the bullish side. After that, we would move up to the $2380 level and be within reach of the $2400 level.

Potential higher targets are $2420 and $2440 levels. We need a negative consolidation and a drop below the support at the $2350 level for a bearish option. With that, we would form a new daily low and have confirmation of the move to the bearish side. Potential lower targets are $2320 and $2300 levels.

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