Bitcoin and Ethereum: Bitcoin is holding above $27000
<div><img width="1200" height="675" src="https://www.financebrokerage.com/wp-content/uploads/2022/11/Bitcoin-6.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 holding above $27000</b></h1>
<ul>
<li aria-level="1">Bitcoin spent yesterday consolidating around support at the $27,000 level.</li>
<li aria-level="1">The price of Ethereum hovered around support at the $1700 level yesterday.</li>
</ul>
<h2><b>Bitcoin chart analysis</b></h2>
<p>Bitcoin spent yesterday consolidating around support at the $27,000 level. It managed to hold above and move towards the $27250 level. If this consolidation continues, we could expect to see a continuation on the <a href="https://www.financebrokerage.com/oil-and-natural-gas-oil-remains-bullish-above-80-00/">bullish</a> side. The next hurdle is the $27400 level, and a break above is needed to continue and then hold up there. The new impulse triggers further resistance; the potential higher targets are the $27600 and $27800 levels.</p>
<p>We need a negative consolidation and price pullback below the $27000 support level for a bearish option. Below, we could expect to see a further weakening of Bitcoin and a drop to lower levels. Potential lower targets are $26800 and $26600 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-222486 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/08/j7qSI1lQ-1024×619.jpg" alt="Bitcoin chart analysis" width="1024" height="619" /></p>
<h2><b>Ethereum chart analysis</b></h2>
<p>The price of Ethereum hovered around support at the $1700 level yesterday. In the last couple of hours, we have seen a slight bullish consolidation that could push the price of Ethereum to start a recovery. Potential higher targets are $1720 and $1740 levels. Yesterday’s resistance was in the zone around the $1720 level.</p>
<p>We need a negative consolidation and a price drop below the $1700 support level for a bearish option. After that, the price could go down to $1680, and there we come across the EMA50 moving average. A break below this support would mean a return to last week’s movement zone. Potential lower targets are $1660 and $1640 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-222487 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/08/ek3WpTW8-1024×619.jpg" alt="Ethereum chart analysis" width="1024" height="619" /></p>
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