Bitcoin and Ethereum: Bitcoin rises above $47000 yesterday

<div><img width="1200" height="800" src="https://www.financebrokerage.com/wp-content/uploads/2022/10/Le-Bitcoin-repasse-les-19-000-dollars-du-coin-vendredi-14-octobre-2022.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Bitcoin" decoding="async" loading="lazy" /></div><h1><b>Bitcoin and Ethereum: Bitcoin rises above $47000 yesterday</b></h1>
<ul>
<li aria-level="1">Yesterday, with a strong bullish consolidation, the price of Bitcoin jumped to the $47,281 level.</li>
<li aria-level="1">After the consolidation of the price of Ethereum below the EMA50 over the weekend in the pullback yesterday to $2176, a strong bullish impulse to the $2360 level followed.</li>
</ul>
<h2><b>Bitcoin chart analysis</b></h2>
<p>Yesterday, with a strong <a href="https://www.financebrokerage.com/eurusd-and-gbpusd-euro-in-bullish-consolidation-to-1-05400/">bullish consolidation</a>, the price of Bitcoin jumped to the $47,281 level. This year’s new high was formed at that level. After that, we are looking at a slight pullback to support at the $46400 level. For now, Bitcoin is managing to hold above that support level, which could produce a new bullish consolidation for the continuation of the previous trend. Potential higher targets are $47000 and $47200 levels.</p>
<p>We need a pullback to the $46000 level for a bearish option. Thus, we would form a new daily low, and bearish pressure would increase in that zone. A break below would confirm the bearish momentum, and the price would continue to slide. Potential lower targets are $45600 and $45200 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-251668 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2024/01/ecYymtjK-1024×598.jpg" alt="Bitcoin chart analysis" width="1024" height="598" /></p>
<h2><b>Ethereum chart analysis</b></h2>
<p>After the consolidation of the price of Ethereum below the EMA50 over the weekend in the pullback yesterday to $2176, a strong bullish impulse to the $2360 level followed. We stopped at that level and started a pullback that continues today. In the previous hour, the price fell below the $2300 level, and the current pressure could send it even lower.</p>
<p>In the zone around $2280, we come across the EMA50 moving average, and there, we could expect better support and stop the price drop. Potential lower targets are $2260 and $2240 levels. We need a positive consolidation and a return above the $2320 level for a bullish option. Then we need to hold on there and, with a new impulse, start a further recovery on the bullish side. Potential higher targets are $2340 and $2360 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-251669 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2024/01/vbqdPFxd-1024×598.jpg" alt="Ethereum chart analysis" width="1024" height="598" /></p>
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