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Bitcoin and Ethereum: Bitcoin once again slipped to $30200

Bitcoin and Ethereum: Bitcoin once again slipped to $30200

Another attempt by Bitcoin to reach $31000 failed yesterday.
Ethereum price touched the $1900 level again yesterday. 

Bitcoin chart analysis

Another attempt by Bitcoin to reach $31000 failed yesterday. The jump was stopped at the $30950 level, and from there, we started a new pullback and fell to the $30200 support level. The price manages to stop the fall at that level, consolidates, and slightly recovers to the $30,400 level.

We need a positive consolidation and a move up to the $30500 level for a bullish option. Thus, we would move above the EMA50 moving average, which would be interpreted positively. After that, Bitcoin would have a solid chance of continuing its recovery. Potential higher targets are $30600 and $30700 levels.

We need a negative consolidation and pullback to the previous support at the $30200 level for a bearish option. A price break below would mean a further decline and a visit to the next lower support. Potential lower targets are $30100 and $30000 levels.

Ethereum chart analysis

Ethereum price touched the $1900 level again yesterday. We stayed up there for a short time because a pullback quickly followed, and the price fell to the $1,860 level. Now we see a slight recovery to $1870, but we still remain under bearish pressure.

For a bullish option, we need a positive consolidation and a return of the price above the $1880 level. At that level, we could get support in the EMA50 moving average. Then we need to keep up there in order to start the recovery with a new impulse. Potential higher targets are the $1890 and $1900 levels.

We need a negative consolidation and a visit to the $1860 support level for a bearish option. A break below would take us back to last week’s support levels. Potential lower targets are the $1850 and $1840 levels.

 

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