Bitcoin and Ethereum: Bitcoin is holding the $29,000 level
- The Bitcoin price was very volatile yesterday.
- Yesterday’s price of Ethereum was trying to reach the $2000 level.
Bitcoin chart analysis
The Bitcoin price was very volatile yesterday. The day we started at $28200. Then we see a jump to the $30022 level. After that, we see resistance at that level and a terrible drop to the $27242 level. We quickly find support at that level again, and the price jumps to $29500.
Today’s movement is more stable, and we are moving in the $28600-$29200 levels range. We need a positive consolidation and a move above the $29400 level for a bullish option. Then we need to hold on there, and with a new impulse, we would see a further recovery and a return above the $30,000 level.
Ethereum chart analysis
Yesterday’s Ethereum price was trying to reach the $2000 level. The price growth stopped at the $1963 level and followed a rapid decline to $1787, forming a new low. Also, we quickly got support at that level and recovered to the $1940 level. The current price of Ethereum is 1888$ level, and we have support at 1880$ level.
Our resistance is the $1900 level with additional pressure from the EMA50 moving average. We need a positive consolidation and a return above the $1930 level for a bullish option. If we succeed in this, we will have a good position from which we would start further growth.
