Bitcoin and Ethereum: Bitcoin is calm ahead of Fed report

<div><img width="1000" height="631" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/09/shutterstock_1916262404.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Bitcoin and crypto" decoding="async" loading="lazy" /></div><h1><b>Bitcoin and Ethereum: Bitcoin is calm ahead of Fed report</b></h1>
<ul>
<li aria-level="1">Bitcoin price continues to consolidate sideways, moving in the $34000-$34800 range.</li>
<li aria-level="1">The price of Ethereum has also been in a sideways consolidation for a week, holding above the $1780 level.</li>
</ul>
<h2><b>Bitcoin chart analysis</b></h2>
<p>Bitcoin price continues to consolidate sideways, moving in the $34000-$34800 range. We have been in this consolidation for seven days now, and there is every possibility that such a movement will continue today. All cryptocurrencies are on standby as they await tomorrow&#8217;s Fed decision on the future interest rate.</p>
<p>For a bullish option, we need a positive consolidation to resistance at the $34800 level. Then, we need a break above to get to the $35,000 level. Potential higher targets are $35200 and $35400 levels.</p>
<p>For a bearish option, we need a negative consolidation and a drop below the $34000 support level. A break below would signal a further pullback and confirm <a href="https://www.financebrokerage.com/what-is-a-bearish-engulfing-candle/">bearish</a> primacy on the chart. Potential lower targets are $33800 and $33600 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-236906 size-large" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/10/HSR1wGRn-1024×620.jpg" alt="Bitcoin chart analysis" width="1024" height="620" /></p>
<h2><b>Ethereum chart analysis</b></h2>
<p>The price of Ethereum has also been in a sideways consolidation for a week, holding above the $1780 level. The upper resistance is in the zone around the $1840 level, and we need to move above it if we want to see a more concrete bullish movement and the formation of a new high. Potential higher targets are $1860 and $1880 levels.</p>
<p>For a bearish option, we need a negative consolidation of the price drop to the $1760 support level. There, we came across the EMA50 moving average, which could provide us with some support.</p>
<p>If there is a break below, a new low would be formed, and thus, we would confirm the bearish option. Potential lower targets are $1740 and $1720 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-236908 size-large" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/10/tr9C00Df-1024×620.jpg" alt="Ethereum chart analysis" width="1024" height="620" /></p>
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