Home Trading Bitcoin and Ethereum support is available at $16500

Bitcoin and Ethereum support is available at $16500


Bitcoin and Ethereum support is available at $16500

  • Bitcoin prices fell to $16430 this morning. 
  • The price of Ethereum was at $1200 the day before. 

Analysis of Bitcoin charts

This morning, Bitcoin’s price fell to $16430, a seven-day low. The price of Bitcoin climbed to $16500 and is now consolidating around this level. The price pressure could continue to push the price down until it reaches $16300. A positive consolidation is necessary for a bullish option, which would take us to $16600.

It is important to keep going and move towards the $16750 level. This level would give us better chances of continuing the growth to $17,000.

Bitcoin chart analysis

Analysis of Ethereum chart

The Ethereum price remained stuck at the $1200 mark for the past day. The price of Ethereum then experienced a bearish consolidation that reached the $1185 mark. Ethereum is currently at $1190 and could return to $1200. To continue the bullish trend, we need to see a break above $1190 with positive consolidation. The price will then rise.

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