Connect with us

Hi, what are you looking for?

Trading Secrets

Bitcoin and Ethereum: Bitcoin fell below $25000 last night

Bitcoin and Ethereum: Bitcoin fell below $25000 last night

The price of Bitcoin failed to withstand the pressure at the $25700 level, and we saw a bearish impulse and a drop to the $24920 level. The price of Ethereum yesterday broke below the support at $1600 and formed a new six-month low at the $1531 level.

Bitcoin chart analysis

The price of Bitcoin failed to withstand the pressure at the $25700 level, and we saw a bearish impulse and a drop to the $24920 level. Thus, a new three-month low was formed. After that, bitcoin manages to consolidate at that level and with a bullish consolidation, it climbs to the $22800 level.

We are currently managing to hold above yesterday’s pressure zone at $25700, and we could expect to see a bullish consolidation and continued recovery. Potential higher targets are the $25,900 and $26,000 levels.

We need a negative consolidation and a new drop below the $25700 level for a bearish option. Then, we could expect to drop below the $25,000 level again and perhaps form a new lower low. Potential lower targets are $24800 and $24600 levels.

Ethereum chart analysis

The price of Ethereum yesterday broke below the support at $1600 and formed a new six-month low at the $1531 level. This was followed by a bullish consolidation and recovery to the $1580 level. We are currently consolidating around that level with slight bearish pressure. We need a positive consolidation and a new test of the $1600 level for a bullish option.

A break above and holding above could affect the further growth of the price of Ethereum. Potential higher targets are the $1620 and $1640 levels. We need a negative consolidation and price pullback below the $1560 level for a bearish option. After that, we should see a further drop in price and a visit to the previous support zone. Potential lower targets are $1520 and $1500 levels.

The post Bitcoin and Ethereum: Bitcoin fell below $25000 last night appeared first on FinanceBrokerage.

Enter your email address below and we’ll send you our best practices.

    You can unsubscribe at any time. Redstatefoundation respects your privacy and strives to be transparent about our data collection practices. Please read our Privacy Policy and Terms of Use.

    You May Also Like

    Trading Secrets

    What is the marginal rate of substitution and its formula? Key Takeaways: Trade-offs and Satisfaction: MRS shows the trade-offs consumers are willing to make...

    Trading Life

    Laura Wong Hon Chan is an interest rate options trader, who is currently a director at Bank of America Merrill Lynch in New York....

    Trading Secrets

    In this episode of StockCharts TV‘s The MEM Edge, Mary Ellen reviews what’s driving the markets higher and what to be on the lookout...

    Trading Secrets

    SPX Monitoring Purposes: Long SPX on 10/10/22 at 3612.39; sold 12/13/22 at 3669.91 = gain 1.59%. Monitoring Purposes GOLD: Long GDX on 10/9/20 at...