Bitcoin and Ethereum: Bitcoin bounced back to $27,000
The price of Bitcoin returned again above the $27,000 level yesterday.
Ethereum managed to recover from yesterday’s drop to the $1775 level.
Bitcoin chart analysis
The price of Bitcoin returned again above the $27,000 level yesterday. Today’s high was formed this morning at the $27388 level. Since then, we are in a pullback again, and the price is falling to $26,800. Additional pressure in that zone is in the EMA50 moving average. With a drop below them, we would see a further pullback in the price of Bitcoin.
There would be a possibility that the price could fall back below the $26000 level. We need a positive consolidation and a return above the $27000 level for a bullish option. After that, we would have the opportunity to test the previous high. Potential higher targets are $27500 and $27600 levels.
Ethereum chart analysis
Ethereum managed to recover from yesterday’s drop to the $1775 level. The bullish impulse brought us close to the $1900 level; we stopped at $1898. Since then, the price has been in bearish consolidation and is currently at $1875. If today’s bearish trend continues, we could see a further pullback. Potential lower targets are the $1860 and $1850 levels.
In the zone around $1860, we encounter the EMA50 moving average, which could moderate the price decline. We need a positive consolidation and stabilization above the $1880 level for a bullish option. After that, we would have an opportunity to go up to $1900 and try to break above.
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