Bitcoin and Ethereum: Bitcoin remains stable above $33500

Yesterday’s Bitcoin price pullback was halted at the $33500 level. After a jump to the $1854 level yesterday, we saw the Ethereum price pull back to the $1760 support level.

Bitcoin chart analysis

Yesterday’s Bitcoin price pullback was halted at the $33500 level. After that, the price starts a bullish consolidation and climbs above the $34,000 level. We are currently very close to climbing above the $34200 level and thereby confirming the bullish supremacy. Potential higher targets are $34800 and $35200 levels.

We need a negative consolidation and price pullback below the $33500 support level for a bearish option. Thus, we would make the first step to the bearish side, which would lead to the continuation of the retreat to lower levels. Potential lower targets are $33200 and $32800 levels. EMA50 is far from the $30800 level.

Ethereum chart analysis

After a jump to the $1854 level yesterday, we saw the Ethereum price pull back to the $1760 support level. We managed to get support there and recover to the $1820 level. We encounter new resistance at that level, and the price pulls back to the current $1785 level. Today’s picture is more bearish, which could influence us to visit yesterday’s $1760 support level.

A break below would signify further pullback and fall to lower levels. Potential lower targets are $1740 and $1720 levels. We need a positive consolidation and a return above the $1820 level for a bullish option. Then, we would have to hold up there in order to create an initial position for a continuation to the bullish side. Potential higher targets are $1840 and $1860 levels.

 

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