Bitcoin and Ethereum: Bitcoin rises to the $30575 level
- Last night bitcoin formed a new higher high at the $30575 level.
- Ethereum was in retreat yesterday from $1938 to $1856 this morning.
Bitcoin chart analysis
Last night bitcoin formed a new higher high at the $30575 level. After that, we see a pullback to support at the $30,000 level. Currently, the price of Bitcoin is calm as news about US inflation is expected. And based on the next inflation, the future moves of the FED on the next monetary policy can be interpreted. We need a negative consolidation and a drop below the $30,000 level for a bearish option. If we were to see such a scenario, the potential lower targets are $29600 and $29200 levels. We need a positive consolidation and a return above the $30400 level for a bullish option. Then we need to stay up there if we want to see the recovery continue. Potential higher targets are $30800 and $31000 levels.
Ethereum chart analysis
Ethereum was in retreat yesterday from $1938 to $1856 this morning. Additional support at that level is in the EMA 50 moving average. Now we see a minor recovery and a move to the $1873 level. If this consolidation continues, we could see further recovery. Potential higher targets are the $1880 and $1890 levels. We need a negative consolidation and a drop below the EMA50 moving average for a bearish option. Potential lower targets are the $1850 and $1840 levels.
