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Bitcoin and Ethereum prices retreat to $16750

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Bitcoin and Ethereum prices retreat to the $16750

  • Bitcoin price continues this week’s consolidation.
  • Although the price of Ethereum remains at $1250, there is slight bearish pressure. 

Analysis of Bitcoin charts

Bitcoin price continues this week’s consolidation. The $16750 support level is under increasing pressure. We could see Bitcoin prices falling and a breakout below the $16750 support level. The $16600 level would be our first support. If the pressure was not stopped, the price would slide to the next lowest levels. Targets for lower prices include $16500 levels and $16300 levels.

To be bullish, you need to see a positive consolidation as well as a move higher towards the $16900 resistance. We must then move higher and attempt to hit the $17000 level. The future trend in bitcoin will depend on how much consolidation occurs at this level.

Bitcoin chart analysis

Analysis of the Ethereum chart

While the price of Ethereum remains at $1250, it is under slight bearish pressure. The price growth has slowed and now we are starting to see a trend towards the bearish. To trigger a bearish option, we need to see a negative consolidation or a fall below $1240. The $1225 level is the next support level. Additional price…



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