Trading Life 27-01-2023 14:41 192 Views

Bitcoin and Ethereum: Bitcoin price stable at $23000

Bitcoin and Ethereum: Bitcoin price stable at $23000

Bitcoin price continues to move in a sideways consolidation.  The price of Ethereum fell to the $1550 level this morning. 

Bitcoin chart analysis

Bitcoin price continues to move in a sideways consolidation. This morning we had a bearish impulse up to the $22600 level, but we soon returned to the initial position around the $23000 level. for a bullish option, we need a positive consolidation and a test of the upper resistance line at $23500.

A break above and staying above could create a positive atmosphere for the next bullish impulse toward the $24000 level. We need a negative consolidation and a new price pullback to the $22500 support level for a bearish option. A drop below would introduce uncertainty into the chart, which could cause the price of Bitcoin to fall. Potential lower targets are $22000 and $21500 levels.

Ethereum chart analysis

The price of Ethereum fell to the $1550 level this morning. We managed to recover so far at $1580 price. We can say that we have support in the lower line of the rising channel. We need to get back above $1600 again and consolidate the new position. Then with the next bullish impulse, we would start the continuation of the Ethereum price recovery.

Potential higher targets are $1625 and $1650 levels. For a bearish option, I need negative consolidation and retesting of this morning’s support at the $1550 level. A price breakout below could introduce uncertainty into the chart, which could lead to further price declines. Potential lower levels are the $1525 and $1500 levels.

The post Bitcoin and Ethereum: Bitcoin price stable at $23000 appeared first on FinanceBrokerage.

Other news

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!