Bitcoin and Ethereum: Bitcoin jumps to a new high at $30988

Bitcoin chart analysis

During the weekend, the price of Bitcoin managed to stabilize around the $30,000 level. In the first hours of Monday, we saw a bullish impulse and the beginning of a bullish consolidation with the formation of a new high at the $30988 level. We have stopped there for now, and the price is retreating to the $30,500 level, looking for that support. If it succeeds in that, it could start a new positive consolidation that would take us above the $31,000 level.

Potential higher targets are $31100 and $31200 levels. We need a negative consolidation and pullback to the $30250 level for a bearish option. Thus, we would return to yesterday’s movement zone, reducing the bullish pressure and influencing the price to start pulling down. Potential lower targets are the $30,000 and $29,750 levels.

Ethereum chart analysis

Over the weekend, the price of Ethereum continued the previous bullish consolidation, stabilizing above the $1630 level. As Monday began, the price made a new bullish impulse and jumped to the $1706 level, thus forming a new higher high. We then see a stop at that level and a pullback below the $1700 level to the $1675 support level. If it does not last, the next support is in the zone around $1,660.

Potential lower targets are $1650 and $1640 levels. For a bullish option, we need a continuation of positive consolidation and a return above the $1680 level. There, we would form a new bottom and, from there, start a new recovery and visit the $1700 level. With a breakthrough, we would have the opportunity to form a new high, and the potential higher targets are $1710 and $1720 levels.

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