Bitcoin and Ethereum: Bitcoin falls below $42000 level

<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 falls below $42000 level</b></h1>
<ul>
<li aria-level="1">Yesterday, we saw the Bitcoin price pull back to the $41639 level.</li>
<li aria-level="1">Yesterday, we saw a drop in the price of Ethereum below the $2200 level.</li>
</ul>
<h2><b>Bitcoin chart analysis</b></h2>
<p>Yesterday, we saw the Bitcoin price pull back to the $41639 level. A strong bearish impulse pushed the price from the $42800 level to yesterday’s low. After that, we see that Bitcoin managed to stabilize and start a recovery. Bullish consolidation takes us up to $42700 and we expect to see further recovery to the bullish side today. Potential higher targets are $43000 and $43200 levels.</p>
<p>Additional resistance to the price of Bitcoin could be found in the EMA50 <a href="https://www.financebrokerage.com/dollar-index-support-at-102-90-with-ema50-moving-average/">moving average</a> in the zone around the $43000 level. We need a negative consolidation and pullback below today’s support at the $42200 level for a bearish option. Thus, we would form a new daily low and thereby confirm the bearish momentum. Potential lower targets are $42000 and $41800 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-249586 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/12/jPU4PnSU-1024×620.jpg" alt="Bitcoin chart analysis" width="1024" height="620" /></p>
<h2><b>Ethereum chart analysis</b></h2>
<p>Yesterday, we saw a drop in the price of Ethereum below the $2200 level. This week’s low was formed at the $2178 level. The decline was stopped there, and the price of Ethereum began a recovery that continues today. We are currently at the $2250 level and testing the EMA50 moving average. We need a jump above if we want to see further recovery and climbing to higher levels. Potential higher targets are $2270 and $2280 levels.</p>
<p>We need a bounce from the EMA50 and a negative consolidation afterwards for a bearish option. Next we look at the $2210 previous support level. A drop below forms a new daily low and confirms bearish dominance. Potential lower targets are the $2200 and $2190 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-249589 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/12/FbXu7Mne-1024×620.jpg" alt="Ethereum chart analysis" width="1024" height="620" /></p>
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