- Bitcoin continues its retreat today, dropping to the $29,080 level.
- Last night, we saw a strong bearish impulse in the price of Ethereum and a drop to the $1811 level.
Bitcoin chart analysis
Bitcoin continues its retreat today, dropping to the $29,080 level. For now, we have managed to recover slightly and move up to the $29,200 level. A stronger bullish consolidation is needed to move us to $29300 and to the EMA50 moving average. If we want to see a continuation to the bullish side, we need a break above and hold there.
With the new bullish momentum, we could expect to see a continued recovery. Potential higher targets are $29400 and $29500 levels. We need a negative consolidation and pullback to the $29000 level for a bearish option. A break below this support would mean the formation of a new low and continuation of the bearish option. Potential lower targets are $28900 and $28800 levels.
Ethereum chart analysis
Last night, we saw a strong bearish impulse in the price of Ethereum and a drop to the $1811 level. We stayed there for a short time, and the price returned to the $1825 level. We managed to climb up to $1829 for a short time, where we encountered new resistance and pulled back to the $1820 level. We are once again leaning to the bearish side, and we could expect a new test of the $1810 support level. Potential lower targets are $1800 and $1790 levels.
For a bullish option, we need a positive consolidation and a return of the price above the $1830 level. Then, we need to stay up there and start a further bullish recovery with a new impulse. Potential higher targets are $1840 and $1850 levels.
.embed_code iframe {
height: 325px !important
}
.embed_code p { margin-top: 18%; text-align: center;
}
.embed_code { height: 370px; width: 80%; margin: auto;
}
.embed_code h2{ font-size: 22px;
}
BONUS VIDEO: Weekly news summary from the markets
[embedded content]
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Automotive / EVs, Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- ChartPrime. Elevate your Trading Game with ChartPrime. Access Here.
- BlockOffsets. Modernizing Environmental Offset Ownership. Access Here.
- Source: https://www.financebrokerage.com/bitcoin-and-ethereum-bitcoin-is-approaching-29000-level/
- :is
- :where
- ][p
- $UP
- 000
- 1
- 200
- a
- above
- again
- analysis
- and
- approaching
- ARE
- auto
- average
- back
- bearish
- below
- Bitcoin
- bitcoin and ethereum
- Break
- Bullish
- Center
- Chart
- climb
- consolidation
- content
- continuation
- continued
- continues
- could
- Drop
- Dropping
- embedded
- ethereum
- expect
- For
- formation
- from
- further
- Have
- height
- higher
- hold
- HTTPS
- if
- in
- ITS
- jpg
- Level
- levels
- Low
- lower
- managed
- Margin
- mean
- Momentum
- move
- moving
- moving average
- Need
- needed
- negative
- New
- news
- night
- now
- of
- once
- Option
- plato
- Plato Data Intelligence
- PlatoData
- player
- positive
- potential
- price
- pullback
- Recover
- recovery
- Resistance
- Retreat
- return
- saw
- see
- Short
- side
- start
- stay
- stayed
- strong
- stronger
- SUMMARY
- support
- support level
- targets
- test
- The
- then
- There.
- this
- time
- to
- today
- us
- Video
- want
- we
- webp
- weekly
- with
- would
- youtube
- zephyrnet