Bitcoin and Ethereum: Bitcoin is approaching $29,000 level

<div><img width="944" height="708" src="https://www.financebrokerage.com/wp-content/uploads/2022/10/Notes_221018_161805_90d.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Bitcoin" decoding="async" loading="lazy" /></div><h1><b>Bitcoin and Ethereum: Bitcoin is approaching $29,000 level</b></h1>
<ul>
<li aria-level="1"><span>Bitcoin continues its retreat today, dropping to the $29,080 level.</span></li>
<li aria-level="1"><span>Last night, we saw a strong bearish impulse in the price of Ethereum and a drop to the $1811 level.</span></li>
</ul>
<h2><b>Bitcoin chart analysis</b></h2>
<p><span>Bitcoin continues its retreat today, dropping to the $29,080 level. For now, we have managed to recover slightly and move up to the $29,200 level. A stronger bullish consolidation is needed to move us to $29300 and to the EMA50 moving average. If we want to see a continuation to the bullish side, we need a break above and hold there.</span></p>
<p><span>With the new bullish momentum, we could expect to see a continued recovery. Potential higher targets are $29400 and $29500 levels. We need a negative consolidation and pullback to the $29000 level for a bearish option. A break below this support would mean the formation of a new low and continuation of the bearish option. Potential lower targets are $28900 and $28800 levels.</span></p>
<p><img decoding="async" loading="lazy" class="alignnone size-large wp-image-219249" src="https://www.financebrokerage.com/wp-content/uploads/2023/08/Bitcoin-chart-analysis-1-1024×619.jpg" alt="Bitcoin chart analysis" width="1024" height="619" /></p>
<h2><b>Ethereum chart analysis</b></h2>
<p><span>Last night, we saw a strong bearish impulse in the price of Ethereum and a drop to the $1811 level. We stayed there for a short time, and the price returned to the $1825 level. We managed to climb up to $1829 for a short time, where we encountered new resistance and pulled back to the $1820 level. We are once again leaning to the bearish side, and we could expect a new test of the $1810 support level. Potential lower targets are $1800 and $1790 levels.</span></p>
<p><span>For a bullish option, we need a positive consolidation and a return of the price above the $1830 level. Then, we need to stay up there and start a further <a href="https://www.financebrokerage.com/the-dollar-index-remains-on-its-bullish-path-towards-103-00/">bullish</a> recovery with a new impulse. Potential higher targets are $1840 and $1850 levels.</span></p>
<p><img decoding="async" loading="lazy" class="alignnone size-large wp-image-219251" src="https://www.financebrokerage.com/wp-content/uploads/2023/08/Ethereum-chart-analysis-1024×619.jpg" alt="Ethereum chart analysis" width="1024" height="619" /></p>
<p>The post <a rel="nofollow" href="https://www.financebrokerage.com/bitcoin-and-ethereum-bitcoin-is-approaching-29000-level/">Bitcoin and Ethereum: Bitcoin is approaching $29,000 level</a> appeared first on <a rel="nofollow" href="https://www.financebrokerage.com">FinanceBrokerage</a>.</p>