Bitcoin and Ethereum: Bitcoin finds support at the $27500

<div><img width="1200" height="801" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2022/10/shutterstock_1101060608-1.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Bitcoin and Ethereum: A Consolidation and Price Pullback" decoding="async" loading="lazy" /></div><h1><b>Bitcoin and Ethereum: Bitcoin finds support at the $27500</b></h1>
<ul>
<li aria-level="1">Yesterday, we saw another jump in the price of Bitcoin above the $28000 level.</li>
<li aria-level="1">The price of Ethereum fell to a new low yesterday at the $1606 level.</li>
</ul>
<h2><b>Bitcoin chart analysis</b></h2>
<p>Yesterday, we saw another jump in the price of Bitcoin above the $28000 level. A new high was formed at the $28125 level. This was followed quickly by a pullback to $27400, where Bitcoin gained support. Since then, the price has slightly risen to $27,650. If today&#8217;s consolidation continues, we could expect to see a continuation of the move to the <a href="https://www.financebrokerage.com/karat-kat-overview-token-with-bullish-sentiment/">bullish</a> side. Potential higher targets are $27800 and $28000 levels.</p>
<p>We need negative consolidation and pullback to support the bearish option at the $27400 level. Additional support in that zone is the EMA50 moving average. A break below would mean that the price does not have the strength to maintain at that level, and we will see a further pullback. Potential lower targets are $27200 and $27000 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-231594 size-large" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/10/UtgmvpkO-1024×620.jpg" alt="Bitcoin chart analysis" width="1024" height="620" /></p>
<h2><b>Ethereum chart analysis</b></h2>
<p>The price of Ethereum fell to a new low yesterday at the $1606 level. This created a new October low price. After that, we see that the price managed to consolidate and initiate a positive consolidation up to the $1635 level. We need a continuation if we want to see Ethereum at higher levels. We could have additional pressure at the $1645 level because we encounter the EMA50 moving average there. Potential higher targets are $1650 and $1660 levels.</p>
<p>We need a negative consolidation and pullback to the $1610 level for a bearish option. A break below signifies that we are continuing on the bearish side and will form a new low. Potential lower targets are $1600 and $1590 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-231595 size-large" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/10/FDIKQmfZ-1024×620.jpg" alt="Ethereum chart analysis" width="1024" height="620" /></p>
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