Bitcoin and Ethereum: Bitcoin jumps to the $27500 level

Bitcoin price is back above the $27000 level. 
The price of Ethereum jumped to $1872 this morning.

Bitcoin chart analysis

Bitcoin price is back above the $27000 level. This morning we were at the $27,500 level. A high was formed at the $27478 level. After that, the price makes a minor pullback to the $27,200 level. It is important to consolidate above the $27,000 level to continue on the bullish side.

If we managed to stay above, we would have a good basis for continuing to the bullish side. Potential higher targets are $27750 and $28000 levels. We have additional support for today’s bullish trend in the EMA50 moving average.

Ethereum chart analysis

The price of Ethereum jumped to $1872 this morning. After consolidation around the $1820 level, a bullish impulse followed and a jump to this morning’s high. After that, the price retreated slightly to support at the $1850 level. We had a new bullish recovery attempt in the previous hour, and if it continues, we could retest the previous high. Potential higher targets are the $1880 and $1900 levels.

We need a negative consolidation and a return to the $1820 level for a bearish option. A break below would drop us to a test of $1,800 which could further burden the price and send it even lower.

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