- Early this morning, Bitcoin jumped to the $22670 level.
- The price of Ethereum jumped to the $1638 level this morning.
Bitcoin chart analysis
Early this morning, Bitcoin jumped to the $22670 level. This morning’s drop in the dollar pushed the price to that level. As the dollar consolidated, Bitcoin initiated a pullback that stopped at $21,725. The price again manages to climb above the $22000 level and is now at the $22090 level.
If we managed to stay above the $22,000 level, the price of bitcoin would have a better initial position to start a further recovery with a new impulse. Potential higher targets are $22800 and $23000 levels.
Ethereum chart analysis
The price of Ethereum jumped to the $1638 level this morning. After which, the price stops at that level and retreats to the $1570 level. Bearish pressure has returned again, and we could now expect to see a continuation of the decline to support at the $1550 level.
The inability of prices to sustain at that level will lead to a breakout below and continuation of the bearish option. Potential lower targets are $1525 and $1500 levels. We need a new positive consolidation and a return above the $1600 level for a bullish option. After that, we could expect to retest the previous high and try to break above. A potential higher target is the $1650 level.
The views and opinions expressed in these articles are those of the source ForexIndustry.com and do not necessarily reflect the official position of ‘Holy Smoke!,’ which shall not be held liable for any inaccuracies presented. The information provided within this article is for general informational purposes only. While we try to keep the information up-to-date and correct, there are no representations or warranties, express or implied, about the completeness, accuracy, reliability, suitability or availability of the information in this article for any purpose.
This article is syndicated automatically through a third-party agency from ForexIndustry.com.
To view the original article at ForexIndustry.com, you can visit https://www.forexindustry.com/2023/03/13/bitcoin-and-ethereum-bitcoin-is-climbing-above-22000/.