Bitcoin and Ethereum: Bitcoin is calm at the $29400 level

<div><img width="1200" height="899" src="https://www.financebrokerage.com/wp-content/uploads/2022/10/Bitcoin-2.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 calm at the $29400 level</b></h1>
<ul>
<li aria-level="1">Bitcoin price continues to pull back after a jump to 30200 on Tuesday.</li>
<li aria-level="1">Ethereum price has also been in a bearish pullback for the past three days.</li>
</ul>
<h2><b>Bitcoin chart analysis</b></h2>
<p>Bitcoin price continues to pull back after a jump to 30200 on Tuesday. Today, we see movement in the $29300-$29500 range. Additional support is provided by the EMA50 moving average from the lower side. This could trigger a positive consolidation and move the price towards the $29500 resistance level.</p>
<p>Then we need a breakout above and try to hold up there. And with a new impulse, we would start a bullish continuation. Potential higher targets are $29600 and $29700 levels. We need a negative consolidation and <a href="https://www.financebrokerage.com/usdchf-and-usdjpy-usdchf-is-in-a-big-pullback-to-0-89000/">pullback</a> below the EMA50 moving average for a bearish option. That could increase pressure on Bitcoin to continue its retreat. Potential lower targets are $29200 and $29000 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-218440 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/08/qjdf5shm-1024×641.jpg" alt="Bitcoin chart analysis" width="1024" height="641" /></p>
<h2><b>Ethereum chart analysis</b></h2>
<p>Ethereum price has also been in a bearish pullback for the past three days. Yesterday, we saw the formation of a new low at the $1840 level. This was followed by a recovery to the $1848 level and a move above the EMA50 moving average. The previous high is at the $1852 level, and we need a break above it if we want to see continued price recovery. Potential higher targets are $1860 and $1870 levels.</p>
<p>We need a negative consolidation and price pullback to the previous support at the $1840 level for a bearish option. A break below would mean potential further pullbacks and the formation of a new low. Potential lower targets are $1830 and $1820 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-218441 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/08/KHTJZY5x-1024×641.jpg" alt="Ethereum chart analysis" width="1024" height="641" /></p>
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