Bitcoin and Ethereum: Bitcoin goes back to $30000
- Bitcoin price retreated to the $29122 level this morning.
- This morning the price of Ethereum retreated to the $2053 level.
Bitcoin chart analysis
This morning bitcoin price retreated to the $29122 level. Thus, a new seven-day low was formed. We were down there for a very short time, and Bitcoin returned to the $29400 level. After that, bitcoin continued with positive consolidation and rose to $29900. The important thing is that we are back above the EMA50 moving average. Now we could expect to see a continuation of the bullish trend above the $30,000 level. Potential higher targets are $30250 and $30500 levels. We need a price pullback below the EMA50 moving average and the $29800 level for a bearish option. This could increase the pressure on the price and continue the retreat to lower levels. Potential lower targets are $29600 and $29400 levels.
Ethereum chart analysis
This morning the price of Ethereum retreated to the $2053 level. We were down briefly and quickly returned to the $2080 level. The price gets the next support there, and with bullish consolidation, it climbs above the $2100 level. We are currently consolidating above that level, and there is a good chance that we will see the Ethereum price continue to rise. Potential higher targets are the $2120 and $2140 levels. We need a negative consolidation and another pullback below the $2080 level for a bearish option. This would allow us to visit the zone around the $2050 level again. If we fail to hold on there, the price could drop to the $2030 level, where we find support in the EMA50 moving average.
