Bitcoin and Ethereum: Bitcoin is holding below $26000
Bitcoin price continues yesterday’s sideways consolidation in the $25700-$26200 range.
Ethereum remains low for the fifth day in a row below the $1750 level.
Bitcoin chart analysis
Bitcoin price continues yesterday’s sideways consolidation in the $25700-$26200 range. The current price is below the $26,000 level, and we are leaning toward the support level again. All eyes are on tonight’s report from the Fed and the continuation of the monetary policy of the dollar.
That is why we see consolidation in the previous days, as we await the Fed’s report. We need a negative consolidation and pullback to the $25600 level for a bearish option. Thus, we would descend again into the previous support zone. Potential lower targets are $25500 and $25400 levels.
On the upside, we have the EMA50 moving average around the $26200 level, and we need a break above it to form a higher high and confirm the bullish option. Potential higher targets are $26400 and $26600 levels.
Ethereum chart analysis
Ethereum remains low for the fifth day in a row below the $1750 level. Here we see, waiting for news about the future monetary policy of the FED. For a bullish option, it is important that we manage to stay above the $1720 level.
Then we need a positive consolidation and a jump to the $1760 level. After that, we need to maintain that high in order to build a new initial position for the next bullish consolidation. Potential higher targets are $1770 and $1780 levels.
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