Bitcoin and Ethereum: Bitcoin is holding around $27600

<div><img width="2048" height="1366" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2022/11/bitcoin-5-scaled.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 around $27600</b></h1>
<ul>
<li aria-level="1">The previous weekend, the main part of Bitcoin’s movement was in the $27900-$28200 range.</li>
<li aria-level="1">Yesterday, the Ethereum price pulled back below the $1600 level.</li>
</ul>
<h2><b>Bitcoin chart analysis</b></h2>
<p>The previous weekend, the main part of Bitcoin’s movement was in the $27900-$28200 range. As Monday began, Bitcoin began to slide, forming a low at the $27,280 level. This is where we found ourselves in last week’s support zone and managed to initiate a new positive <a href="https://www.financebrokerage.com/the-dollar-index-with-bullish-consolidation-rises-to-101-00/">consolidation</a>. Such a move pushed the price to the $27700 level this morning.</p>
<p>We are now also testing the EMA50 moving average in the hope of gaining its support and embarking on a continuation of the recovery. Potential higher targets are $27800 and $28000 levels. We need a negative consolidation and pullback to the previous support at the $27280 level for a bearish option. A break below would lead to the formation of a new low and thus confirm the bearish pressure. Potential lower targets are $27200 and $27000 levels.</p>
<p><a href="https://www.tradingview.com/x/5GFBbuSX/"><img decoding="async" loading="lazy" class="aligncenter wp-image-232227 size-large" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/10/5GFBbuSX-1024×620.jpg" alt="Bitcoin chart analysis" width="1024" height="620" /></a></p>
<h2><b>Ethereum chart analysis</b></h2>
<p>Yesterday, the Ethereum price pulled back below the $1600 level. The price drop did not stop there but continued up to the $1,548 level. There, we managed to get support and climb up to the $1580 level. Today’s high price is $1590, and we need a break above if we want to see a continuation of the movement to the bullish side. Potential higher targets are $1600 and $1620 levels.</p>
<p>Additional resistance for the price could be the EMA50 moving average in the zone around the $1620 level. We need a negative consolidation and pullback below the previous consolidation at the $1580 level for a bearish option. After that, we would be under increased pressure to continue pulling back and forming a new low. Potential lower targets are $1560 and $1540 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-232228 size-large" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/10/yDEuo5l4-1024×620.jpg" alt="Ethereum chart analysis" width="1024" height="620" /></p>
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