Bitcoin and Ethereum: The Bitcoin’s Price at $20,000
- Bitcoin prices continue to fall to $20000 levels.
- Yesterday night, Ethereum’s price fell to $1500.
Analysis of Bitcoin chart
Bitcoin prices continue to fall to $20000 levels. Today’s low is at the 20100 level; if the current scenario continues, we will see a break below. To be bearish, we need to have a negative consolidation below the $20,000 mark. We need to keep below that level and then, with a new bearish impulse start the fall.
The potential lower targets include $19750 and $19500. A new positive consolidation is necessary and the formation a new bottom are required for a bullish option. We could then expect the next bullish impulse as well as further recovery of Bitcoin’s price. Targets higher than $20500 or $21000 are possible.
Analysis of the Ethereum chart
The price of Ethereum dropped to $1500 last night. After a small recovery to $1550, the price of Ethereum has gone back down to $1500. Then it took a sharp turn towards the bearish side. For a bearish option, we need to see a negative consolidation as well as a fall below the $1500 mark. We need to keep the price below $1500 and pull back with the next bearish impulse.
There are potential lower targets