Bitcoin and Ethereum: Bitcoin is hovering around $29450

<div><img width="1200" height="675" src="https://www.financebrokerage.com/wp-content/uploads/2022/11/Bitcoin-6.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 hovering around $29450</b></h1>
<ul>
<li aria-level="1">The price of Bitcoin jumped to $29,680 yesterday after news of an interest rate hike by the Fed.</li>
<li aria-level="1">Yesterday, we saw the Ethereum price attempt to reach $1900, but the momentum was stopped at the $1890 level.</li>
</ul>
<h2><b>Bitcoin chart analysis</b></h2>
<p>The price of Bitcoin jumped to $29,680 yesterday after news of an interest rate hike by the Fed. After that, we see a new Bitcoin pullback to $29300 and get new support at that level. From there, we move into a new <a href="https://www.financebrokerage.com/the-dollar-index-with-bullish-consolidation-rises-to-101-00/">bullish consolidation</a> and climb above the $29400 level. Thus, we returned to the previous bullish trend.</p>
<p>In the following, we need to break above the $29500 level and try to stay above it. With the next impulse, we would start the continuation of the recovery. Potential higher targets are $29,600 and $29,700 levels.</p>
<p>We need a negative consolidation and pullback below the $29300 level for a bearish option. After that, bitcoin could slip to $29,200 and thus form a new low. Potential lower targets are $29100 and $29000 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-214563 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/07/zKhOxo8D-1024×621.jpg" alt="Bitcoin chart analysis" width="1024" height="621" /></p>
<h2><b>Ethereum chart analysis</b></h2>
<p>Yesterday, we saw the Ethereum price attempt to reach $1900, but the momentum was stopped at the $1890 level. After which, we see a pullback to the $1870 support level. Here we are getting new support and trying to trigger a bullish consolidation. We need to break above the $1880 level and hold there for some time before moving on with the recovery. Potential higher targets are $1890 and $1900 levels.</p>
<p>We need a negative consolidation and a price drop below the $1870 support level for a bearish option. After that, we could expect to see a continuation of the price retreat to lower levels. Potential lower targets are $1860 and $1850 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-214565 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/07/F5jLcYDX-1024×621.jpg" alt="Ethereum chart analysis" width="1024" height="621" /></p>
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