Bitcoin price continues to move in a sideways consolidation. The price of Ethereum fell to the $1550 level this morning. Bitcoin price continues to move in a sideways consolidation. This morning we had a bearish impulse up to the $22600 level, but we soon returned to the initial position around the $23000 level. for a bullish option, we need a positive consolidation and a test of the upper resistance line at $23500.
A break above and staying above could create a positive atmosphere for the next bullish impulse toward the $24000 level. We need a negative consolidation and a new price pullback to the $22500 support level for a bearish option. A drop below would introduce uncertainty into the chart, which could cause the price of Bitcoin to fall. Potential lower targets are $22000 and $21500 levels.
Ethereum analysis
The price of Ethereum fell to the $1550 level this morning. We managed to recover so far at $1580 price. We can say that we have support in the lower line of the rising channel. We need to get back above $1600 again and consolidate the new position. Then with the next bullish impulse, we would start the continuation of the Ethereum price recovery.
Potential higher targets are $1625 and $1650 levels. For a bearish option, I need negative consolidation and retesting of this morning’s support at the $1550 level. A price breakout below could introduce uncertainty into the chart, which could lead to further price declines. Potential lower levels are the $1525 and $1500 levels.
