Bitcoin and Ethereum: Bitcoin climbed back above $35000

Bitcoin chart analysis

The price of Bitcoin rose to the $35891 level yesterday. Before that, we saw consolidation and testing of support at the $34,500 level. We got additional support in that zone in the EMA50 moving average.

This was followed by a bullish impulse and a jump to yesterday’s high. From that level, the price begins to pull back to support at the $35,200 level. The pullback stops there, and Bitcoin begins a new bullish consolidation, increasing to the $35350 level.

We need continued positive consolidation in order to continue further recovery. Potential higher targets are $35500 and $35600 levels. For a bearish option, we need a negative consolidation and a drop below the support at the $35200 level.

After that, we would be in a situation to test $35000. Potential lower targets are $34900 and $34800 levels.

Ethereum chart analysis

Yesterday, we saw the Ethereum price pull back to support at the $1850 level. We managed to stay above it and jump to the $1910 level with a bullish impulse. There, we encounter resistance and pull back to support at the $1875 level.

We are currently consolidating around the $1880 level but remain under bearish pressure, which could continue to push the price down. Potential lower targets are $1860 and $1850 levels.

Additional support for Ethereum in the zone around $1850 was provided by the EMA50 moving average. For a bullish option, we need a positive consolidation and move again to the $1900 level.

Then, we would have to hold on there so that with the next impulse, we could start the continuation to the bullish side. Potential higher targets are the $1910 and $1920 levels.

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