Bitcoin and Ethereum: Bitcoin remains under pressure

<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 remains under pressure</b></h1>
<ul>
<li aria-level="1">Yesterday, we saw a bullish consolidation of the price of Bitcoin from the $27300 level.</li>
<li aria-level="1">The price of Ethereum encounters resistance at the $1650 level and begins a new bearish consolidation.</li>
</ul>
<h2><b>Bitcoin chart analysis</b></h2>
<p>Yesterday, we saw a bullish consolidation of the price of Bitcoin from the $27300 level. Today’s high price is at the $27,900 level, which we reached this morning. There, we encounter resistance and make a certain pullback to the $26,720 level. If we get support at the $27600 level, we could start a new <a href="https://www.financebrokerage.com/bitcoin-and-ethereum-btc-and-new-bullish-consolidation/">bullish consolidation</a> and start a new price increase. Potential higher targets are $27800 and $28000 levels.</p>
<p>We need a negative consolidation and a break below the support at the $27600 level for a bearish option. After that, we should see a continuation of the pullback and the formation of today’s new low. Potential lower targets are $27500, $27400 and $27300 levels. Bitcoin could have additional support in the zone around $27300 in the EMA50 moving average.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-231352 size-large" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/10/bT2lZCqV-1024×620.jpg" alt="Bitcoin chart analysis" width="1024" height="620" /></p>
<h2><b>Ethereum chart analysis</b></h2>
<p>The price of Ethereum encounters resistance at the $1650 level and begins a new bearish consolidation. We are now at the $1635 level and are approaching yesterday’s low at the $1625 level. A longer stay in that zone could lead to a breakout below and the formation of a new lower low. Potential lower targets are $1610 and $1600 levels.</p>
<p>We need a positive consolidation and a return above the $1650 level for a bullish option. Thus, we would climb above the EMA50 moving average and receive its support for further continuation to the bullish side. Potential higher targets are $1660 and $1670 levels. A price jump above $1680 would be considered a more concrete move for Ethereum to continue its recovery.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-231354 size-large" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/10/I3EkcVSR-1024×620.jpg" alt="Ethereum chart analysis" width="1024" height="620" /></p>
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