Bitcoin and Ethereum: Bitcoin continues to move above $34000

<div><img width="1000" height="667" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2022/03/shutterstock_1905996475.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Bitcoin and Ethereum continue their bullish recovery" decoding="async" loading="lazy" /></div><h1><b>Bitcoin and Ethereum: Bitcoin continues to move above $34000</b></h1>
<ul>
<li aria-level="1">In the second part of this week, we see a slowdown in the bullish trend in the price of Bitcoin.</li>
<li aria-level="1">The price of Ethereum made a new high yesterday at the $1865 level.</li>
</ul>
<h2><b>Bitcoin chart analysis</b></h2>
<p>In the second part of this week, we see a slowdown in the bullish trend in the price of Bitcoin. In the previous 24 hours, the price moved to the $33,700-$34,200 movement zone. For now, we are holding above the $34000 level, but we need a break above $34300 to move out of this consolidation. This could influence the prices to move more easily to continue on the <a href="https://www.financebrokerage.com/eurusd-new-bullish-momentum-above-ema50-from-1-04485/">bullish</a> side. Potential higher targets are $34800 and $35200 levels.</p>
<p>We need a negative consolidation and pullback to the $33700 support level for a bearish option. A break below would lead to the formation of a new lower low and thereby confirm the primary bearish option. Potential lower targets are $33600 and $3200 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-236235 size-large" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/10/XcstJFon-1024×620.jpg" alt="Bitcoin chart analysis" width="1024" height="620" /></p>
<h2><b>Ethereum chart analysis</b></h2>
<p>The price of Ethereum made a new high yesterday at the $1865 level. After that, we saw a bearish consolidation and a drop to the $1760 support level. Since then, we have recovered to the $1810 level, where we encountered new resistance and formed a lower high for the price of Ethereum. Then, we make a bearish consolidation and go down to a $1775 support level. Increased pressure in that zone could lead to a fight below and the formation of a new lower low.</p>
<p>Potential lower targets are $1740 and $1720 levels. Additional support in the zone around $1740 was the EMA50 moving average. We need a positive consolidation and price movement above the $1820 level for a bullish option. Thus, we would jump past the previous resistance, which would reduce the pressure on the price. With a new impulse, we would be in a position to start a new bullish consolidation. Potential higher targets are $1840 and $1860 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-236236 size-large" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/10/2i8sdqLX-1024×620.jpg" alt="Ethereum chart analysis" width="1024" height="620" /></p>
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