Connect with us

Hi, what are you looking for?

Economy

Bitcoin and Ethereum: Bitcoin is hovering around $29450

Bitcoin

Bitcoin and Ethereum: Bitcoin is hovering around $29450

  • The price of Bitcoin jumped to $29,680 yesterday after news of an interest rate hike by the Fed.
  • Yesterday, we saw the Ethereum price attempt to reach $1900, but the momentum was stopped at the $1890 level.

Bitcoin chart analysis

The price of Bitcoin jumped to $29,680 yesterday after news of an interest rate hike by the Fed. After that, we see a new Bitcoin pullback to $29300 and get new support at that level. From there, we move into a new bullish consolidation and climb above the $29400 level. Thus, we returned to the previous bullish trend.

In the following, we need to break above the $29500 level and try to stay above it. With the next impulse, we would start the continuation of the recovery. Potential higher targets are $29,600 and $29,700 levels.

We need a negative consolidation and pullback below the $29300 level for a bearish option. After that, bitcoin could slip to $29,200 and thus form a new low. Potential lower targets are $29100 and $29000 levels.

Bitcoin chart analysis

Ethereum chart analysis

Yesterday, we saw the Ethereum price attempt to reach $1900, but the momentum was stopped at the $1890 level. After which, we see a pullback to the $1870 support level. Here we are getting new support and trying to trigger a bullish consolidation. We need to break above the $1880 level and hold there for some time before moving on with the recovery. Potential higher targets are $1890 and $1900 levels.

We need a negative consolidation and a price drop below the $1870 support level for a bearish option. After that, we could expect to see a continuation of the price retreat to lower levels. Potential lower targets are $1860 and $1850 levels.

Ethereum chart analysis

The post Bitcoin and Ethereum: Bitcoin is hovering around $29450 appeared first on FinanceBrokerage.

You May Also Like

Financial News

McCarthy’s Speakership Hangs in the Balance as House Greenlights Stopgap Funding Bill: A Defining Moment Looms In a stunning turn of events, the future...

Trading Secrets

On this week’s edition of Trading Simplified, Dave continues to show his methodology in action with a new mystery chart. In his “Mind the...

Financial News

Conservatives Call for GOP Candidates to Step Aside After Second Debate: A Call to Streamline the Republican Race In a surprising turn of events,...

Financial News

Poll Unveils GOP Primary Voters’ Resounding Verdict on Best Republican Debate Performance In the midst of a heated Republican primary race, the GOP primary...