Bitcoin and Ethereum: Bitcoin jumps back to $29900
<div><img width="1200" height="771" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2022/09/Bitcoin.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Bitcoin" decoding="async" loading="lazy" /></div><h1><b>Bitcoin and Ethereum: Bitcoin jumps back to $29900</b></h1>
<ul>
<li aria-level="1">The price of Bitcoin is climbing to the $29800 level, thus testing this week’s high at the $29900 level.</li>
<li aria-level="1">The price of Ethereum makes a new bullish <a href="https://www.financebrokerage.com/oil-and-natural-gas-bearish-impulse-is-in-a-trend/">impulse</a> above the $1600 level.</li>
</ul>
<h2><b>Bitcoin chart analysis</b></h2>
<p>The price of Bitcoin is climbing to the $29800 level, thus testing this week’s high at the $29900 level. We are very close to testing the $30,000 level after almost two months. The day started at $28800, followed by a bullish impulse to $29300. Then, a new impulse and jump to the current level. Potential higher targets are $30200 and $30400 levels.</p>
<p>We need a negative consolidation and pullback to the previous support zone at the $29200 level for a bearish option. A drop below this level could signal a further pullback and testing of previous support levels. Potential lower targets are the $29,000 and $28,800 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-234684 size-large" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/10/ydzZoU9E-1024×620.jpg" alt="Bitcoin chart analysis" width="1024" height="620" /></p>
<h2><b>Ethereum chart analysis</b></h2>
<p>The price of Ethereum makes a new bullish impulse above the $1600 level. Today’s price high is $1620, and we are on our way to climb to this week’s high at $1640. Last week, we also tried to stay up above, but we had no success. This would be our third attempt, and we would have another opportunity to form a new higher high. Potential higher targets are $1650 and $1660 levels.</p>
<p>We need a new negative consolidation and price pullback below the $1600 level for a bearish option. We could then expect to see a further pullback as there would be increased pressure on the price due to the failure to continue on the bullish side. Potential lower targets are $1580 and $1560 levels. We could get additional support in the EMA50 moving average around the $1570 level.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-234685 size-large" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/10/QD3SjVDv-1024×620.jpg" alt="Ethereum chart analysis" width="1024" height="620" /></p>
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