Bitcoin and Ethereum: Bitcoin retreats to the $34,000 level

<div><img width="1200" height="798" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/02/Le-Bitcoin-passe-les-24-000-dollars-jeudi-2-fevrier-2023.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Bitcoin" decoding="async" loading="lazy" /></div><h1><b>Bitcoin and Ethereum: Bitcoin retreats to the $34,000 level</b></h1>
<ul>
<li aria-level="1">The price of Bitcoin is in retreat after jumping to the $35968 level on Thursday.</li>
<li aria-level="1">The price of Ethereum formed a new high yesterday at the $1874 level.</li>
</ul>
<h2><b>Bitcoin chart analysis</b></h2>
<p>The price of Bitcoin is in retreat after jumping to the $35968 level on Thursday. The pullback takes us down to the $34250 level, and we are now testing potential support at the EMA50 moving average here. If price pressure continues, a breakout below is the next step in Bitcoin’s price. Potential lower targets are the $34,000 and $33,500 levels.</p>
<p>For a bullish option, we need a positive consolidation and a move above the $34600 level. Then, we would have to hold up there in order to trigger the <a href="https://www.financebrokerage.com/eurusd-gbpusd-continuation-on-bearish-side/">continuation</a> of the Bitcoin price recovery with the next impulse.</p>
<p>Potential higher targets are $34800 and $35200 levels. Depending on the strength of the impulse, the price could rise and test the previous high at $36,000.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-238035 size-large" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/11/QY1OOzVi-1024×620.jpg" alt="Bitcoin chart analysis" width="1024" height="620" /></p>
<h2><b>Ethereum chart analysis</b></h2>
<p>The price of Ethereum formed a new high yesterday at the $1874 level. This was followed by a pullback down to the first support at the $1820 level. Then, the price tried to initiate a bullish consolidation, but it was stopped at the $1840 level. Failure to move above leads to another pullback and a drop to the $1780 level.</p>
<p>In this zone, we test the EMA50 moving average, looking for possible support in it. A break below leads to the formation of a new low, thus confirming bearish dominance. Price would continue to pull back to some lower support. Potential lower targets are $1760 and $1740 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-238036 size-large" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/11/MyKQMPrI-1024×620.jpg" alt="Ethereum chart analysis" width="1024" height="620" /></p>
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