Bitcoin and Ethereum: Bitcoin is holding above $30400

<div><img width="944" height="708" src="https://www.financebrokerage.com/wp-content/uploads/2022/10/Notes_221018_161805_90d.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Bitcoin" decoding="async" loading="lazy" /></div><h1><b>Bitcoin and Ethereum: Bitcoin is holding above $30400</b></h1>
<ul>
<li aria-level="1">The price of Bitcoin tested the $31000 level yesterday.</li>
<li aria-level="1">Yesterday we saw the testing of the $1900 level by the price of Ethereum.</li>
</ul>
<h2><b>Bitcoin chart analysis</b></h2>
<p>The price of Bitcoin tested the $31000 level yesterday. Holding at that level was short-lived because a pullback to the $30,200 level followed. After that, Bitcoin finds support at that level and starts a new bullish consolidation and recovery up to the $30700 level. That level represents our resistance for now; the price has retreated to $30,300.</p>
<p>Additional price support in this zone is in the EMA50 moving average. Here we can expect to see a new consolidation and the initiation of another bullish impulse. A return to the zone around the $31,000 level would be a full hit for Bitcoin, as well as a <a href="https://www.financebrokerage.com/diamond-continuation-pattern/">continuation</a> on the bullish side. Potential higher targets are $31250 and $31500 levels.</p>
<p>We need a negative consolidation and a price drop to the $30,000 support level for a bearish option. A break below would add to the bearish pressure, pushing the price of Bitcoin even lower. Potential lower targets are $30800 and $30600 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-211102 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/07/aWKH80Xl-1024×621.jpg" alt="Bitcoin chart analysis" width="1024" height="621" /></p>
<h2><b>Ethereum chart analysis</b></h2>
<p>Yesterday we saw the testing of the $1900 level by the price of Ethereum. This was followed by a quick pullback to the $1880 level, where the price tried to hold. After that, we see a breakout below and a drop to $1865. We currently stopped at that level and recovered slightly to the $1870 level. With the fall below the EMA50 moving average, bearish pressure on the price of Ethereum has increased.</p>
<p>Potential lower targets are the $1850 and $1840 levels. We need a positive consolidation and a price jump above $1880 for a bullish option. Then we would have the opportunity to go to $1900 again because we have support in the EMA50 moving average. Potential higher targets are the $1920 and $1940 levels.</p>
<p><a href="https://www.tradingview.com/x/aAiWM8wH/"><img decoding="async" loading="lazy" class="aligncenter wp-image-211106 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/07/aAiWM8wH-1024×621.jpg" alt="Ethereum chart analysis" width="1024" height="621" /></a></p>
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