Bitcoin and Ethereum: Bitcoin reaches $27500 level
- Bitcoin is now trading above $27000.
- The price of Ethereum has risen to $1872 in the morning.
Bitcoin chart analysis
Bitcoin has risen above the $27,000 level. Yesterday morning, we were at $27500. A high was created at the $27478 price level. The price then makes a small pullback towards the $27200 level. To continue to be bullish, it is crucial to maintain a price above $27,000.
If we can stay above the current levels, then we will have a solid basis to continue to move in the direction of bullishness. Higher targets could be $27750 or $28000. We have additional support for today’s bullish trend in the EMA50 moving average.
Ethereum Chart Analysis
This morning, the price of Ethereum shot up to $1872. After consolidation around the $1820 level, a bullish impulse followed and a jump to this morning’s high. After this, the price fell back to the $1850 support level. The previous hour saw a new bullish attempt to recover, and if this continues, it could lead us back to the previous high. The $1880 level and $1900 are potential higher targets.
A bearish option requires a negative consolidation, and a return back to the $1820 mark. A break below would lead to…
