Bitcoin and Ethereum: Bitcoin Price Still Moves Bullishly

Bitcoin price continues to move bullishly, forming a new weekly high at the $19700 level.
Today’s resistance to the price of Ethereum is the $1340 level.

Bitcoin chart analysis

Bitcoin price continues to move bullishly, forming a new weekly high at the $19700 level. We are currently seeing a minor pullback and looking for support at the $19,500 level. We need a new bullish momentum that would go above today’s high, and after that, the next target is the $20000 resistance level.

If we could manage to stay there for a while, we would have a better chance of continuing above $20500. This would put pressure on the October resistance zone. We need a new negative consolidation and pullback below the $19500 level for a bearish option.

After that, the price of Bitcoin would probably visit the $19000 support level again. The price could easily slip even lower with increased pressure on that spot. Potential lower targets are $18,500 and $18,000 support levels.

Bitcoin chart analysis

Ethereum chart analysis

Today’s resistance to the price of Ethereum is the $1340 level. This is the second attempt to climb above, but the price did not have the strength for such a thing. This was followed by a pullback to the $1,320 level, where we currently have some support.

If we do not return above the $1340 level soon, we could expect the price to drop below the $1300 support level. In the continuation, the price would fall to the previous low at the $1260 level and look for new support there.

A potential lower target is the $1240 level. We need a new positive consolidation and a move above the $1340 level for a bullish option. After that, we must stay above and move to the bullish side with a new impulse. Potential higher targets are $1360, $1380 and $1400 levels.

Ethereum chart analysis