Bitcoin and Ethereum: Bitcoin falls to the $28980 level
Yesterday’s attempt by the price of Bitcoin to make a concrete step to the bullish side was stopped at the 30350 level.
Over the weekend, Ethereum’s price remained under pressure below the EMA50 moving average.
Bitcoin chart analysis
Yesterday’s attempt by the price of Bitcoin to make a concrete step to the bullish side was stopped at the 30350 level. We start bearish consolidation from there, pulling back below $30000 and the EMA50 moving average. Then, we get support in the $29,600-$29,800 zone, and later we see a breakout below and a price drop to the $28,978 level. Thus, a new monthly low price was formed.
We need a new positive consolidation and price movement above the $29400 level for a bullish option. Then, we need to stay above that and to start the continuation of the recovery with a new impulse. Potential higher targets are $29600 and $29800 levels.
Ethereum chart analysis
Over the weekend, Ethereum’s price remained under pressure below the EMA50 moving average. Yesterday we had an attempt to start a bullish option, but it was stopped at the $1900 level. From there, Ethereum starts a new pullback and today falls to the $1833 level, thus forming a two-week low.
For a bearish option, we need a continuation of the negative consolidation. Potential lower targets are $1820 and $1810 levels. We need a positive consolidation and price movement above the $1850 level for a bullish option. Then, we need to try to stay above that, and with a new impulse, we would start the continuation of the recovery. Potential higher targets are $1860 and $1870 levels.
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