Bitcoin and Ethereum: Bitcoin slips back below $27,000

<div><img width="1200" height="842" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/04/Le-Bitcoin-casse-a-nouveau-les-30-000-dollars-mardi-18-avril-2023.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="Le Bitcoin casse à nouveau les 30 000 dollars mardi 18 avril 2023" decoding="async" loading="lazy" /></div><h1><b>Bitcoin and Ethereum: Bitcoin slips back below $27,000</b></h1>
<ul>
<li aria-level="1">Bitcoin struggled to stay above the EMA50 moving average yesterday but was unsuccessful.</li>
<li aria-level="1">The price of Ethereum has continued the <a href="https://www.financebrokerage.com/eur-gbp-bearish-consolidation/">bearish consolidation</a> since the beginning of the week and today.</li>
</ul>
<h2><b>Bitcoin chart analysis</b></h2>
<p>Bitcoin struggled to stay above the EMA50 moving average yesterday but was unsuccessful. It was followed by a breakout below and a fall to support at the $27,300 level. Then we tried to hold above it, but a new breakout occurred below, and a low was formed at the $26978 level. We remain under pressure around $27,000, which could influence us to see a new breakout below and the formation of a new lower low. Potential lower targets are $26800 and $26600 levels.</p>
<p>We need a new positive consolidation and a return above the $27300 level for a bullish option. That way, we would be back above the previous support level and from there, it would be easier for us to continue the recovery. Potential higher targets are $27600 and $27800 levels. Bitcoin may encounter additional resistance at the EMA50 moving average around the $27500 level.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-232575 size-large" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/10/hXFFpW0C1-1024×620.jpg" alt="Bitcoin chart analysis" width="1024" height="620" /></p>
<h2><b>Ethereum chart analysis</b></h2>
<p>The price of Ethereum has continued the bearish consolidation since the beginning of the week and today. This morning, we saw the formation of a new low at the $1545 level. We managed to move above the $1550 level and are currently moving slightly above that level. The pressure is still there, and we need a bullish impulse to break away and start a recovery.</p>
<p>It would be good if we moved to the $1570 level and formed the next bottom there. Potential higher targets are $1580 and $1600 levels. We need a negative consolidation and a new pullback below the $1550 level for a bearish option. After that, the price could easily form a new low and thus confirm the bearish scenario. Potential lower targets are $1540 and $1530 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-232576 size-large" src="https://6ztkp25f.tinifycdn.com/wp-content/uploads/2023/10/PSCxMMuG-1024×620.jpg" alt="Ethereum chart analysis" width="1024" height="620" /></p>
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