Bitcoin and Ethereum: Bitcoin is testing the $28,000 level

<div><img width="1200" height="675" src="https://6ztkp25f.tinifycdn.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 testing the $28,000 level</b></h1>
<ul>
<li aria-level="1">Over the weekend, the price of Bitcoin was in a <a href="https://www.financebrokerage.com/eurusd-and-gbpusd-euro-in-bullish-consolidation-to-1-05400/">bullish consolidation</a> from $26800 to $27200 levels.</li>
<li aria-level="1">Today, the Ethereum price jumped to a new five-day high at the $1590 level.</li>
</ul>
<h2><b>Bitcoin chart analysis</b></h2>
<p>Over the weekend, the price of Bitcoin was in a bullish consolidation from $26800 to $27200 levels. At the beginning of Monday, we saw a move above the EMA50 moving average, continued consolidation and a strong bullish impulse to the $27996 level. We have resistance there for now and see a pullback to the $27700 level.</p>
<p>If we don&#8217;t get back above $27800 soon, we could expect to see a continuation of the pullback and the formed low at the lower support. Potential lower targets are $27600 and $27500 levels. We need a positive consolidation and price breakout above the $28,000 level for a bullish option. Then we need to hold up there in order to move from there to further continued bullish side. Potential higher targets are $28100 and $28200 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-233585 size-large" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/10/NWIqedpt-1024×620.jpg" alt="Bitcoin chart analysis" width="1024" height="620" /></p>
<h2><b>Ethereum chart analysis</b></h2>
<p>Today, the Ethereum price jumped to a new five-day high at the $1590 level. For now, we have resistance at that level and are pulling back to support at the $1575 level. Additional support in the zone around $1575 was provided by the EMA50 moving average. We need a positive consolidation to trigger a bullish option and return to the $1590 resistance level.</p>
<p>A break above would indicate a release from bearish pressure and a continuation of growth to higher levels. Potential higher targets are the $1600 and $1610 levels. We need a negative consolidation and pullback to the $1570 level for a bearish option. With that, we would also go below the EMA50 moving average. There would be increasing pressure on the price to continue its further pullback. Potential lower targets are $1560 and $1550 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-233586 size-large" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/10/ExiDEgXw-1024×620.jpg" alt="Ethereum chart analysis" width="1024" height="620" /></p>
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