Bitcoin and Ethereum: Bitcoin falls to the $28300 level

<div><img width="1200" height="800" src="https://www.financebrokerage.com/wp-content/uploads/2022/06/shutterstock_671976487.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Bitcoin Drops $25,000 – What Happened to Crypto Market?" decoding="async" loading="lazy" /></div><h1><b>Bitcoin and Ethereum: Bitcoin falls to the $28300 level</b></h1>
<ul>
<li aria-level="1"><span>The price of <a href="https://www.financebrokerage.com/bitcoin-trading-tips-and-tricks-a-beginners-guide/">Bitcoin</a> is falling this morning to a new three-month low at the $28300 level.</span></li>
<li aria-level="1"><span>The price of Ethereum is falling to a new low this morning at the $1,777 level.</span></li>
</ul>
<h2><b>Bitcoin chart analysis</b></h2>
<p><span>The price of Bitcoin is falling this morning to a new three-month low at the $28300 level. A strong bearish consolidation first broke below the $29000 support level, and then we saw a drop to this morning’s low. The price quickly finds support at that level and pulls back to the $28660 level. There, we encounter a new resistance and fall below the $28600 level.</span></p>
<p><span>We could soon test the $28,500 level, and if it doesn’t hold, Bitcoin could continue its further decline. Potential lower targets are $28400 and $28300 levels. We need a positive consolidation and a move up to the $28700 level for a <a href="https://www.financebrokerage.com/the-dollar-index-remains-on-its-bullish-path-towards-103-00/">bullish</a> option. Then, it would be desirable to hold up there in order to consolidate before continuing to the bullish side. Potential higher targets are $28800 and $28900 levels.</span></p>
<h2><b><img decoding="async" loading="lazy" class="alignnone size-large wp-image-219465" src="https://www.financebrokerage.com/wp-content/uploads/2023/08/Bitcoin-chart-analysis-1-1-1024×619.jpg" alt="Bitcoin chart analysis" width="1024" height="619" /></b></h2>
<h2><b>Ethereum chart analysis</b></h2>
<p><span>The price of Ethereum is falling to a new low this morning at the $1,777 level. We stayed down for a short time, and the price retreated to the $1,800 level. For now, we have less resistance at that level and a slight price pullback to the $1795 level. We need a break above the $1800 level if we want to see a continuation to the bullish side. Potential higher targets are $1810 and $182 levels.</span></p>
<p><span>We need a negative consolidation and a new price pullback below the $1780 level for a bearish option. After that, we will likely see a new low forming, which would confirm a further decline in the price of Ethereum. Potential lower targets are $1770 and $1760 levels.</span></p>
<p><img decoding="async" loading="lazy" class="alignnone size-large wp-image-219466" src="https://www.financebrokerage.com/wp-content/uploads/2023/08/Ethereum-chart-analysis-1-1-1024×619.jpg" alt="Ethereum chart analysis" width="1024" height="619" /></p>
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