Bitcoin and Ethereum: Bitcoin is climbing above $22000



  • 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.

Bitcoin chart analysis

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.

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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.

Ethereum chart analysisEthereum chart analysis

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