Bitcoin and Ethereum: Bitcoin falls below the $25,500 level
Yesterday, the price of Bitcoin slipped below the June support at the $26600 level.
The price of Ethereum crashed yesterday from $1900 to $1775 level.
Bitcoin chart analysis
Yesterday, the price of Bitcoin slipped below the June support at the $26600 level. A new lower low was formed at the $25389 level. After that, Bitcoin recovered to the $25800 level, where it encountered new resistance and retreated to the $25700 level. If we managed to get back above the $26,000 level, we would have a good position to recover.
Potential higher targets are $26400 and $26600 levels. We need a negative consolidation and a new pullback to the $25400 support level for a bearish option. If price pressure continues, Bitcoin could fall even lower. Potential lower targets are $25200 and $25000 levels.
Ethereum chart analysis
The price of Ethereum crashed yesterday from $1900 to $1775 level. A new two-week low was formed; the previous time the price was at that level was May 25. Now we see a return of the price above the $1800 level and a bullish consolidation that moves the price up to the $1820 level. Based on the current consolidation, we could expect to see a continued recovery in the price of Ethereum.
Potential higher targets are the $1830 and $1840 levels. We need a negative consolidation and a new pullback below the $1800 level for a bearish option. After that, we could expect the price to continue falling and even form a new lower low.
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