Bitcoin and Ethereum: New low for Bitcoin yesterday at 38505

<div><img width="1200" height="842" src="https://www.financebrokerage.com/wp-content/uploads/2023/04/Le-Bitcoin-casse-a-nouveau-les-30-000-dollars-mardi-18-avril-2023.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Le Bitcoin casse à nouveau les 30 000 dollars mardi 18 avril 2023" decoding="async" loading="lazy" /></div><h1><b>Bitcoin and Ethereum: New low for Bitcoin yesterday at 38505</b></h1>
<ul>
<li aria-level="1">Increased pressure on the price of Bitcoin led to a drop yesterday to the $38505 level.</li>
<li aria-level="1">The price of Ethereum continued its retreat yesterday afternoon until reaching the $2165 level.</li>
</ul>
<h2><b>Bitcoin chart analysis</b></h2>
<p>Increased pressure on the price of Bitcoin led to a drop yesterday to the $38505 level. The price managed to consolidate there and initiate a positive consolidation above the $39200 level. After the new support, we continue with the recovery, forming a high at the $40225 level. We stop there and pull back to the $39560 level, where we get the support and form a higher low. This confirms that we are in a mild bullish trend.</p>
<p>We are currently in a <a href="https://www.financebrokerage.com/eurusd-and-gbpusd-euro-in-bullish-consolidation-to-1-05400/">bullish consolidation</a> and could test the previous resistance level. Potential higher targets are $40400 and $40800 levels. The EMA200 moving average is in the zone around the $41300 level. We need a drop below the $39500 level for a bearish option. This would confirm continuing on the bearish side. Potential lower targets are $39200 and $38800 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-255568 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2024/01/EFzdb03W-1024×598.jpg" alt="Bitcoin chart analysis" width="1024" height="598" /></p>
<h2><b>Ethereum chart analysis</b></h2>
<p>The price of Ethereum continued its retreat yesterday afternoon until reaching the $2165 level. This created a three-week price low. We get support at that level and start the recovery. Positive consolidation took us up to $2255, where we are encountering minor resistance in the hope of jumping over it. Potential higher targets are $2275 and $2300 levels. The EMA200 moving average is high at the $2400 level.</p>
<p>We need a negative consolidation and pullback below the $2200 level for a bearish option first. In this way, there would be increased pressure on the price to test yesterday’s low. This could produce a breakout below and the formation of a new lower low. Potential lower targets are $2150 and $2125 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-255569 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2024/01/FsSqHrCa-1024×598.jpg" alt="Ethereum chart analysis" width="1024" height="598" /></p>
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