Bitcoin and Ethereum: Bitcoin slips slowly below $35000

Today, we see a pullback in Bitcoin price below the $35000 level. The price of Ethereum formed a new high yesterday at the $1916 level.

Bitcoin chart analysis

Today, we see a pullback in Bitcoin price below the $35000 level. Today’s low price is $34830 level. We are still under a certain pressure, which could influence us to see a breakthrough below this morning’s low and form a new one. In the zone around $34600, we come across the EMA50 moving average, and we could look for better support there.

Potential lower targets are $34400 and $34200 levels. For a bullish option, we need a positive consolidation and a return above the $35000 level. Then, we would have to hold above there to trigger a bullish impulse from there and continue the recovery. Potential higher targets are $35200 and $35400 levels.

Ethereum chart analysis

The price of Ethereum formed a new high yesterday at the $1916 level. After that, we see a stop at that level and the beginning of a price pullback. This morning, we saw a drop below the $1900 level all the way to the $1880 support level.

We managed to hold above that level and get back to $1895, but now we are encountering resistance in that zone. The price is moving into a new bearish consolidation, which could lead to a breakout below the previous one and the formation of a new low.

Potential lower targets are $1870 and $1860 levels. The EMA50 moving average is in the zone around the $1850 level. For a bullish option, we need a new retracement above the $1900 level. Then, we would have to hold on above and form a new bottom there, from which we start to continue the recovery. Potential higher targets are the $1910 and $1920 levels.

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