Bitcoin and Ethereum: Bitcoin made a jump above $27000

• The bitcoin price took advantage of yesterday’s drop in the dollar, climbing to the $27297 level.
• The price of Ethereum formed its weekly high at the $1988 level.

Bitcoin chart analysis

The bitcoin price took advantage of yesterday’s drop in the dollar, climbing to the $27297 level. We have now moved into the zone around the $27000 level and are trying to consolidate at that level. If we manage to withstand the pressure and stay here, we will be in a good position to continue our recovery. Potential higher targets are $27250 and $27500 levels.

We need a negative consolidation and a drop below the $27000 support level for a bearish option. After that, we could expect Bitcoin to continue its pullback to the next lower support. Potential lower targets are $26750 and $26500 levels. Additional support in the zone around $26,500 is in the EMA50 moving average, and this is where the potential price decline could be stopped.

Ethereum chart analysis

The price of Ethereum formed its weekly high at the $1988 level. In the past few days, we have seen a stable bullish consolidation from the $1580 level to the formation of today’s high. We are currently seeing a slight pullback to the $1675 level. We managed to hold on there, and now we are waiting for a bullish consolidation to continue on the bullish side. Potential higher targets are $1690 and $1700 levels.

We need a negative consolidation and pullback to the $1650 support level for a bearish option. A break below would confirm a bearish option and a continuation of the Ethereum price decline. Potential lower targets are $1625 and $1600 levels. We could get additional support in the EMA50 moving average in the zone around the $1610 level.

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