Bitcoin and Ethereum: Bitcoin hovers around $29000

<div><img width="1200" height="800" src="https://www.financebrokerage.com/wp-content/uploads/2022/10/Le-Bitcoin-repasse-les-19-000-dollars-du-coin-vendredi-14-octobre-2022.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Bitcoin" decoding="async" loading="lazy" /></div><h1><b>Bitcoin and Ethereum: Bitcoin hovers around $29000</b></h1>
<ul>
<li aria-level="1">The price of bitcoin continues with consolidation around the $29,000 level.</li>
<li aria-level="1">Ethereum price continues to consolidate sideways in the $1820-$1840 range.</li>
</ul>
<h2><b>Bitcoin chart analysis</b></h2>
<p>The price of bitcoin continues with consolidation around the $29,000 level. This morning, we had one bullish attempt, which was stopped at the $29175 level. After that, we see a pullback to the initial position around the $29,000 level. An additional break from the previous high is the EMA50 moving average, and we need a break above it if we want to see a <a href="https://www.financebrokerage.com/diamond-continuation-pattern/">continuation</a> of Bitcoin’s recovery. Potential higher targets are $29200 and $29300 levels.</p>
<p>We need a negative consolidation and a drop below the $28900 level for a bearish option. The inability of the price of Bitcoin to hold there will make a break below, and we will see the formation of a new low. Potential lower targets are $28800 and $28700 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-217315 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/08/N8ILriaq-1024×641.jpg" alt="Bitcoin chart analysis" width="1024" height="641" /></p>
<h2><b>Ethereum chart analysis</b></h2>
<p>Ethereum price continues to consolidate sideways in the $1820-$1840 range. This morning, we tried to break above the $1840 level but failed, and the price returned to the $1830 level. Additional resistance in the zone around $1840 is the EMA50 moving average. We need a break below if we want to continue on the bullish side. Potential higher targets are $1850 and $1860 levels.</p>
<p>We need a negative consolidation and price pullback to the $1820 support level for a bearish option. A break below would only increase the pressure on Ethereum and send it to the next support. Potential lower targets are $1810 and $1800 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-217316 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/08/IUeLAAmy-1024×641.jpg" alt="Ethereum chart analysis" width="1024" height="641" /></p>
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