Bitcoin and Ethereum: Bitcoin finds support at $28200

<div><img width="1200" height="798" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2022/10/Bitcoin.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Bitcoin" decoding="async" loading="lazy" /></div><h1><b>Bitcoin and Ethereum: Bitcoin finds support at $28200</b></h1>
<ul>
<li aria-level="1">The price of bitcoin in the previous 12 hours moved in the $28200-$28400 range.</li>
<li aria-level="1">The price of Ethereum fell this morning to a new low for the week at the $1543 level.</li>
</ul>
<h2><b>Bitcoin chart analysis</b></h2>
<p>The price of bitcoin in the previous 12 hours moved in the $28200-$28400 range. At the moment, we are still in that zone, and we are continuing with <a href="https://www.financebrokerage.com/the-dollar-index-with-bullish-consolidation-rises-to-101-00/">consolidation</a>. A certain bearish pressure prevents us from breaking above the $28400 level. So it is possible that we will see a decline below the $28200 level and visit the support at the $28000 level.</p>
<p>The EMA50 moving average is in the zone around $27,800, and we could expect more specific support there. We need a positive consolidation and a break above the $28400 level for a bullish option. Then, we would have to hold above there in order to launch a continuation to the bullish side from there. Potential higher targets are $28600 and $28800 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-234340 size-large" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/10/sAFWM4Az-1024×608.jpg" alt="Bitcoin chart analysis" width="1024" height="608" /></p>
<h2><b>Ethereum chart analysis</b></h2>
<p>The price of Ethereum fell this morning to a new low for the week at the $1543 level. Since then, we have been in a mild bullish consolidation, moving up to the $1554 level. It would be good if we moved above the $1,560 level, and thus we would return above the weekly open price. There, we could get new support and form a bottom from which we could start the continuation of the recovery. Potential higher targets are $1570 and $1580 levels.</p>
<p>In the zone around the $1570 level, we encounter the EMA50 moving average, and we would have to jump over it if we plan a recovery. We need a negative consolidation and price pullback below the $1543 support level for a bearish option. In this way, we could form a new low and thereby confirm the bearish side. Potential lower targets are $1540 and $1530 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-234341 size-large" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/10/lS3WVoPy-1024×608.jpg" alt="Ethereum chart analysis" width="1024" height="608" /></p>
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