Bitcoin and Ethereum: Bitcoin climbs to the $29000 level
- Today we see the price of Bitcoin above the $29000 level for the first time in the past month and a half.
- Ethereum is back above the $1800 level today.
Bitcoin chart analysis
Today we see the price of Bitcoin above the $29000 level for the first time in the past month and a half. A new high was formed at the $29014 level. After that, we see a minor pullback to the $28850 level, while we could look for support at the $28700 level. A price drop below this level could send us down to $28,000. Since June 15, the price of Bitcoin has advanced from $24756 to $29014 level.
For a bullish option, we need a continuation of positive consolidation and a break above the $29000 level. After that, it is necessary to das e and maintain that up before we continue up. Potential higher targets are $29250 and $29500 levels. The main psychological target is the $30,000 level.
Ethereum chart analysis
Ethereum is back above the $1800 level today. A new ten-day high was formed at the $1820 level. We are now looking for support at the $1800 level in order to continue the growth and recovery. Potential higher targets are the $1840 and $1860 levels.
We need a negative consolidation and pullback below the $1800 level for a bearish option. After that, we look at the $1780 level, the place of the previous consolidation and holding price. A breakout below would return us to the previous channel of movement. Potential lower targets are $1760 and $1740 levels. In the zone around the $1740 level, we could get support in the EMA50 moving average and start a new bullish trend from there.
