Bitcoin and Ethereum: Bitcoin back to $29,000 this morning

<div><img width="1200" height="795" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2022/07/shutterstock_1009981624.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="bitcoin" decoding="async" loading="lazy" /></div><h1><b>Bitcoin and Ethereum: Bitcoin back to $29,000 this morning</b></h1>
<ul>
<li aria-level="1">Bitcoin started the day with consolidation in the $28,300-$28,500 range.</li>
<li aria-level="1">Yesterday, we saw a pullback in Ethereum price from $1605 to $1553.</li>
</ul>
<h2><b>Bitcoin chart analysis</b></h2>
<p>Bitcoin started the day with consolidation in the $28,300-$28,500 range. After that, we see a bullish impulse and testing the $29,000 level. A slight pullback to the $28,700 support level followed; the level was broken, and the price is now falling below the $28,600 level. We could soon expect to test potential support at the upper level of the previous <a href="https://www.financebrokerage.com/consolidation-in-stocks/">consolidation</a> at the $28,500 level.</p>
<p>A break below would indicate that the price of Bitcoin remains under pressure, and we could expect to see a continuation of the pullback. Potential lower targets are $28300 and $28100, yesterday&#8217;s low price. We need a positive consolidation and a move above the $28700 level for a bullish option. In this way, we would return above the previous support. There, we would form a new bottom from which we would start a new growth. Potential higher targets are $28800 and $29000 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-234109 size-large" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/10/PwidDlli-1024×608.jpg" alt="Bitcoin chart analysis" width="1024" height="608" /></p>
<h2><b>Ethereum chart analysis</b></h2>
<p>Yesterday, we saw a pullback in Ethereum price from $1605 to $1553. At that level, we managed to get support and initiate a bullish consolidation, forming today&#8217;s high at the $1582 level. After that, we pulled back to the $1570 level and are consolidating above it. A slight pressure in the zone around the $1575 level creates the EMA50 moving average, which could increase the bearish pressure on the price.</p>
<p>Potential lower targets are $1560 and $1550 levels. We need a positive consolidation and even up to the $1580 level for a bullish option. Thus, we would jump over the EMA50 moving average, increasing optimism in the continuation of the recovery to the bullish side. Potential higher targets are the $1585 and $1590 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-234110 size-large" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/10/2hn1GKGb-1024×608.jpg" alt="Ethereum chart analysis" width="1024" height="608" /></p>
<p>&nbsp;</p>
<p>The post <a rel="nofollow" href="https://www.financebrokerage.com/bitcoin-and-ethereum-bitcoin-back-to-29000-this-morning/">Bitcoin and Ethereum: Bitcoin back to $29,000 this morning</a> appeared first on <a rel="nofollow" href="https://www.financebrokerage.com">FinanceBrokerage</a>.</p>