Bitcoin and Ethereum: Bitcoin retreats below $28000

The price of Bitcoin has once again fallen below the $28,000 level this morning.
Over the weekend, the price of Ethereum retreated from $2000 all the way to $1837 this morning. 

Bitcoin chart analysis

The price of Bitcoin has once again fallen below the $28,000 level this morning. The decline was stopped at the $27617 level. This is the second drop below 28000 in the previous 8 days, which could signal a further continuation and the formation of a new lower low below the $27500 level. Now we see a minor recovery to $28000 and an attempt to move above it.

If we succeeded, we would have a better position from which the price could continue its recovery. Potential higher targets are $28250 and $28500 levels. We need a negative consolidation and a new test of this morning’s low for a bearish option. A break below would mean a potential further pullback and the formation of a new low. Potential lower targets are $27500 and $27250 levels.

Ethereum chart analysis

Over the weekend, the price of Ethereum retreated from $2000 all the way to $1837 this morning. The fall has stopped for now, and the price has slightly recovered to the $1860 level. We need a new positive consolidation and a move to the $1880 level. In this way, we would be above the previous consolidation around the $1870 level.

If we could manage to break above, we would have a good starting position for the next bullish impulse and continued recovery. Potential higher targets are the $1900 and $1920 levels.

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