Bitcoin and Ethereum: Bitcoin retreats below $30800

<div><img width="1200" height="800" src="https://www.financebrokerage.com/wp-content/uploads/2022/07/shutterstock_791329759.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Bitcoin" decoding="async" loading="lazy" /></div><h1><b>Bitcoin and Ethereum: Bitcoin retreats below $30800</b></h1>
<ul>
<li aria-level="1">The price of Bitcoin yesterday was in retreat to the $30630 level.</li>
<li aria-level="1">The price of Ethereum pulled back to the $1930 level yesterday, and for now, we have support at that level.</li>
</ul>
<h2><b>Bitcoin chart analysis</b></h2>
<p>The price of Bitcoin yesterday was in retreat to the $30630 level. We got support at that level very quickly, and the price started to recover. We are now consolidating around the $30,800 level and will try to hold there in order to move forward. We need a break above $31000, and then we would have to stay above that and form a new bottom.</p>
<p>With a positive consolidation, bitcoin would start a continuation of the bullish trend with the first target at the $31100 level. A price break above could take us to a test of this week&#8217;s $31300-$31400 resistance zone. Potential higher targets are $31500 and $31600 levels.</p>
<p>We need a negative <a href="https://www.financebrokerage.com/apecoin-and-akita-inu-a-slight-recovery-and-consolidation/">consolidation</a> and a price drop below the $30600 support level for a bearish option. After that, the price would be close to testing the $30500 level and the EMA50 moving average. If we fail to hold above that level, the potential lower targets are the $30400 and $30300 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-209888 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/07/unw7uE4d-1024×634.jpg" alt="Bitcoin chart analysis" width="1024" height="634" /></p>
<h2><b>Ethereum chart analysis</b></h2>
<p>The price of Ethereum pulled back to the $1930 level yesterday, and for now, we have support at that level. Today we see sideways movement in the narrow $1930-$1940 range. Even today, the bearish pressure is slightly noticeable, which could lead to the price falling below and forming a new low. Potential lower targets are the $1920 and $1910 levels. The EMA50 moving average could provide additional price support at the $1910 level.</p>
<p>For a bullish option, we need a positive consolidation and a jump in the price of Bitcoin above the $1950 level. Then we need to stay up there in order to initiate further recovery. Potential higher targets are the $1960 and $1970 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-209889 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/07/tm9lYdtj-1024×634.jpg" alt="Ethereum chart analysis" width="1024" height="634" /></p>
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