Bitcoin and Ethereum: Bitcoin is holding above $43500
- Yesterday, Bitcoin’s attempt to reach the $45,000 price was stopped at the $44,800 level.
- The price of Ethereum is in a slight retreat after failing to reach the $2300 level yesterday
Bitcoin chart analysis
Yesterday, Bitcoin’s attempt to reach the $45,000 price was stopped at the $44,800 level. We stop there and make a bearish impulse to the $42630 level, where we get new support and initiate a bullish consolidation that is still on the chart. This moves us to the $44400 level, and we still have room to try to hold above the $44000 level. If we succeed in this, the price would have a good initial position to attack the transient high at the $44800 level again.
Potential higher targets are $45000 and $45200 levels. We need a negative consolidation and price pullback below the $43500 level for a bearish option. This is where the EMA50 moving average awaits us, and a break below it would further increase the pressure on the bitcoin price. After that, we would look at the $43,000 level as the next support point. Potential lower targets are $42750 and $42500 levels.
Ethereum chart analysis
The price of Ethereum is in a slight retreat after failing to reach the $2300 level yesterday. After that, we watched a pullback by forming a low at the $2220 level. Since then, the movement has been in the $2220-$2270 range. We need a stronger bullish impulse to break through this consolidation and threaten the $2300 level again.
Additional pressure in that zone also creates the EMA50 moving average and we would have to skip it to continue to the bullish side. We need a negative consolidation and a price drop to the $2200 support level for a bearish option. This is where we would test yesterday’s support zone. Potential lower targets are the $2180 and $2160 levels.
