Bitcoin and Ethereum: Bitcoin falls to support at $42200

<div><img width="1200" height="800" src="https://www.financebrokerage.com/wp-content/uploads/2022/03/shutterstock_1476022535.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="04 May chart overview for Bitcoin and Ethereum" decoding="async" loading="lazy" /></div><h1><b>Bitcoin and Ethereum: Bitcoin falls to support at $42200</b></h1>
<ul>
<li aria-level="1">This week, we see indecisive movement in the price of Bitcoin.</li>
<li aria-level="1">The price of Ethereum is retreating after yesterday’s jump to $2447.</li>
</ul>
<h2><b>Bitcoin chart analysis</b></h2>
<p>This week, we see indecisive movement in the price of Bitcoin. One day we go up another day we go down, and so on until today. After forming a high of $43,800 on Wednesday evening, we see a <a href="https://www.financebrokerage.com/safemoon-and-litecoin-litecoin-makes-a-pullback-to-70-00/">pullback</a> on Thursday and a drop to the $42,200 level on Friday morning. Then, the price gets the desired support and recovers to the $42800 level. Based on the previous movement of the day, we expect to see a bullish trend and a recovery in the price of Bitcoin. Potential higher targets are $43000 and $43200 levels.</p>
<p>We will have a possible higher resistance to this option in the EMA50 moving average around the $43000 level. We need a negative consolidation and pullback below the $42200 support level for a bearish option. With a fall below, the chances of a new low increase, and thus, we get a confirmation of the bearish trend. Potential lower targets are $42000 and $41800 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-250452 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/12/MsUhgZIk-1024×620.jpg" alt="Bitcoin chart analysis" width="1024" height="620" /></p>
<h2><b>Ethereum chart analysis</b></h2>
<p>The price of Ethereum is retreating after yesterday’s jump to $2447. Early this morning, we saw a drop to the $2320 level. We managed to get the required support and recover to the $2370 level. Based on this short-term bullish consolidation, we expect to see continued growth to the bullish side. Potential higher targets are $2380 and $2400 levels.</p>
<p>We need a pullback to the $2320 support level for a bearish option. A drop below would push us to $2300, and there, we would test the EMA50 moving average. The lack of support would lead to a further pullback in the price of Ethereum, and the potential lower targets are the $2280 and $2260 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-250455 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/12/NoBnH0hu-1024×524.jpg" alt="Ethereum chart analysis" width="1024" height="524" /></p>
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