Bitcoin and Ethereum: Bitcoin up to $29500 this morning

<div><img width="1200" height="771" src="https://www.financebrokerage.com/wp-content/uploads/2022/09/Bitcoin.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Bitcoin" decoding="async" loading="lazy" /></div><h1><b>Bitcoin and Ethereum: Bitcoin up to $29500 this morning</b></h1>
<ul>
<li aria-level="1">Early this morning, we saw a strong bullish impulse and a jump in the price of Bitcoin from $29,000 to the $29,500 level.</li>
<li aria-level="1">The price of Ethereum fell to the $1850 level last night.</li>
</ul>
<h2><b>Bitcoin chart analysis</b></h2>
<p>Early this morning, we saw a strong bullish impulse and a jump in the price of Bitcoin from $29,000 to the $29,500 level. After that, the price makes a bearish consolidation and falls to the $29400 level. Additional pressure on the price in the zone around $29,500 was created by the EMA50 moving average. We are now looking at $29400, expecting a break below and a drop to the $29000 <a href="https://www.financebrokerage.com/the-dollar-index-could-soon-test-the-102-00-support-level/">support level</a>. Potential lower targets are $28900 and $28800 levels.</p>
<p>We need a positive consolidation and a move above the $29500 level for a bullish option. Then, we need to maintain our position above so that we can start further recovery from that level. Potential higher targets are $29600 and $29700 levels. By rising above the $29,700 level, the price would form a new seven-day high.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-215546 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/07/HeEScju9-1024×621.jpg" alt="Bitcoin chart analysis" width="1024" height="621" /></p>
<h2><b>Ethereum chart analysis</b></h2>
<p>The price of Ethereum fell to the $1850 level last night. After which, with a bullish impulse, we returned to the $1875 level and encountered resistance there. We are now consolidating at the $1865 level, hoping to see a new bullish impulse and move back above the $1875 level.</p>
<p>Additional price pressure in that zone creates the EMA50 moving average. If we were able to consolidate up there, we would be in a good position to continue the recovery. Potential higher targets are $1880 and $1885 levels.</p>
<p>We need a negative consolidation and a new pullback to the $1850 support level for a bearish option. Then, we need a breakout below to confirm the bullish option. Potential lower targets are the $1840 and $1830 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-215548 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/07/t2T3mEDN-1024×621.jpg" alt="Ethereum chart analysis" width="1024" height="621" /></p>
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