Bitcoin and Ethereum: Bitcoin is approaching $36,000 level
Bitcoin price broke out of the previous consolidation yesterday, forming a new high this morning at the $35968 level.
This morning, we saw the formation of a new Ethereum high price at the $1874 level.
Bitcoin chart analysis
Bitcoin price broke out of the previous consolidation yesterday, forming a new high this morning at the $35968 level. The previous time we were at that level was a year and a half ago. The jump stops at that level, and Bitcoin begins to retreat, descending to the $35100 level.
The pullback stops at that level, and we see a slight recovery to the $35300 level. We need a new bullish impulse to start a new bullish consolidation.
Potential higher targets are $36000 and $36200 levels. For a bearish option, we need a negative consolidation and price pullback below the $35000 support level. After that, there would be an increase in pressure on Bitcoin, which would have a negative impact and send it to lower support levels. Potential lower targets are $34800 and $34400 levels.
Ethereum chart analysis
This morning, we saw the formation of a new Ethereum high price at the $1874 level. We stayed up there for a short time, and a pullback to the $1825 level followed. If the current consolidation continues, the price of Ethereum could slip to the $1800 support level. Failure to hold at that level would lead to a breakout below. Potential lower targets are $1780 and $1760 levels.
We would get additional support in the EMA50 moving average in the zone around the $1790 level. For a bullish option, we need a new positive consolidation and a return above the $1840 level.
There, we formed a new bottom from which we would have the opportunity to start further growth on the bullish side. Potential higher targets are $1860 and $1880 levels.
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