Bitcoin and Ethereum: Bitcoin slips back below $29,000

<div><img width="1200" height="800" src="https://www.financebrokerage.com/wp-content/uploads/2022/10/bitcoin-3.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="bitcoin" decoding="async" loading="lazy" /></div><h1><b>Bitcoin and Ethereum: Bitcoin slips back below $29,000</b></h1>
<ul>
<li aria-level="1">The price of Bitcoin fell to $28842 yesterday, forming a new July low.</li>
<li aria-level="1">The price of Ethereum fell twice yesterday to the $1833 level.</li>
</ul>
<h2><b>Bitcoin chart analysis</b></h2>
<p>The price of Bitcoin fell to $28842 yesterday, forming a new July low. After that, we see <a href="https://www.financebrokerage.com/euro-sell-struggles-to-sustain-upside-momentum/">momentum</a> above $29000 and consolidation around that level. The next important level is $29200, and we need a break above it in order to start a further recovery. Potential higher targets are $29400 and $29600 levels. EMA50 moving average is in the zone around the $29800 level.</p>
<p>We need a negative consolidation and a new price pullback below the $29,000 level for a bearish option. After that, the bitcoin price could form a new lower low and thus confirm the bearish option. Potential lower targets are $28800 and $28600 levels. Bitcoin has been in a bearish trend since July 14 after climbing to the $31818 level.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-213834 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/07/Daa1w17i-1024×621.jpg" alt="Bitcoin chart analysis" width="1024" height="621" /></p>
<h2><b>Ethereum chart analysis</b></h2>
<p>The price of Ethereum fell twice yesterday to the $1833 level. After that, we went back above $1840 to now see a consolidation around the $1850 level. The price is trying with a positive consolidation to break above $1860 and thus initiate a continuation of the recovery. Potential higher targets are $1870 and $1880 levels. Additional resistance in the zone around $1880 was leveled by the EMA50 moving average.</p>
<p>We need a negative consolidation and a new price pullback below the $1835 level for a bearish option. Such a picture would further weigh on Ethereum, and we would likely see a breakout below and a continuation to the bearish side. Potential lower targets are $1820, $1810 and $1800 levels.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-213836 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/07/MH4R4yK31-1024×621.jpg" alt="Ethereum chart analysis" width="1024" height="621" /></p>
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