Bitcoin and Ethereum: Bitcoin increasingly safe above $65000
- Last night, Bitcoin’s price climbed to a new weekly high at the $65851 level
- The price of Ethereum is increasingly stable above the $2650 level
Bitcoin chart analysis
Last night, Bitcoin’s price climbed to a new weekly high at the $65851 level. Soon after, we saw a pullback to support at the $64800 level. The price formed a new bottom and started a bullish consolidation, returning again above the $65000 level. We are now at $65450, and everything indicates that we will continue on the bullish side. Potential higher targets are the $65750 and $66000 levels.
For a bearish option, we need a negative consolidation and pullback below the daily open level of $65175. Below that, Bitcoin is moving into negative territory, and there is increasing pressure on the price to look for a new low. We need a break below $65000 to strengthen the bearish momentum to continue to the bearish side. Potential lower targets are the $64750 and $64500 levels. Additional price support in the $64500 zone is the EMA 50 moving average.
Ethereum chart analysis
The price of Ethereum is increasingly stable above the $2650 level. The EMA 50 moving average supports us, and we hope that it will help us continue to grow to new niche levels. With a jump above $2680, we would have good momentum to attack the weekly high at $2700. This time, we are looking for a break and the formation of a new weekly high.
Potential higher targets are the $2720 and $2740 levels. For a bearish option, we need Ethereum to pull back below the $2620 level. With that step, we move below the daily open level and the EMA 50 moving average. We will also see the formation of a new daily low, confirming the growth of bearish momentum. Potential lower targets are the $2600 and $2580 levels.
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