Bitcoin and Ethereum: Bitcoin retreats below $28000

• Since the day began, bitcoin has been retreating from $28,100, and we got support at the $27,800 level. 
• The price of Ethereum dropped to the $1840 level this morning. 

Bitcoin chart analysis

Since the day began, bitcoin has been retreating from $28,100, and we got support at the $27,800 level. For now, we managed to stay above that level and initiate a shorter recovery to the $27,900 level. If this recovery continues, the price could rise again to $28,000.

To continue the bullish option, we need to grow to the $28200 level and stay there to consolidate before the next bullish impulse. Potential higher targets are $28300 and $28500 levels. We need a negative consolidation and pullback below the $27800 support level for a bearish option. If we were to see it, the potential lower targets would be $27700 and $27600 support levels.

Ethereum chart analysis

The price of Ethereum dropped to the $1840 level this morning. The price receives support in the EMA50 4h moving average. Since then, we have been in a bullish consolidation and recovery to the $1860 level. Suppose this consolidation continues, Ethereum could climb to the $1880 level. to continue the bullish option.

In that case, we need to maintain up there in order to start a further recovery with the next impulse. Potential higher targets are the $1900 and $1920 levels. We need a negative consolidation and pullback to this morning’s EMA50 moving average support for a bearish option. A price break below could introduce uncertainty, and the pullback could continue. Potential lower targets are $1830 and $1820 levels.

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