Bitcoin and Ethereum: Bitcoin is holding above $27200

<div><img width="1200" height="801" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2022/10/shutterstock_1101060608.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Bitcoin and Ethereum" decoding="async" loading="lazy" /></div><h1><b>Bitcoin and Ethereum: Bitcoin is holding above $27200</b></h1>
<ul>
<li aria-level="1">Today’s Bitcoin price movement is very similar to yesterday’s.</li>
<li aria-level="1">This morning, we saw the formation of a new weekly Ethereum low at the $1625 level.</li>
</ul>
<h2><b>Bitcoin chart analysis</b></h2>
<p>Today’s Bitcoin price movement is very similar to yesterday’s. The range of movement is in the $27200-$27500 range. Bitcoin is still under pressure, which could lower the price to support at the $27,200 level. Additional support in that zone is the EMA50 moving average. A break below would increase the <a href="https://www.financebrokerage.com/bitcoin-and-ethereum-bearish-pressure-seems-to-be-too-much/">bearish pressure</a> to continue the decline to lower levels. Potential lower targets are $27000 and $26800 levels.</p>
<p>We need a positive consolidation and a jump above the $27500 level for a bullish option. Then, we need to hold ourselves there to create a better starting position for continued recovery. Potential higher targets are $27600 and $27800 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-231017 size-large" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/10/VzXwRVIm-1024×620.jpg" alt="Bitcoin chart analysis" width="1024" height="620" /></p>
<h2><b>Ethereum chart analysis</b></h2>
<p>This morning, we saw the formation of a new weekly Ethereum low at the $1625 level. Bearish consolidation continues after Monday’s jump to the $1755 level. Yesterday, the price began to press the EMA50 moving average, and this morning, we saw a break below and a further decline to the current low. This consolidation shows us that the bearish option is in place to continue until the end of the day. Potential lower targets are $1610 and $1600 levels.</p>
<p>We need a positive consolidation and a return above the $1660 level for a bullish option. Then, we would have to hold ourselves above that level to continue our recovery from there. Potential higher targets are $1670 and $1680 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-231020 size-large" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/10/AiZBZ67Z-1024×620.jpg" alt="Ethereum chart analysis" width="1024" height="620" /></p>
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