Connect with us

Hi, what are you looking for?

Trading Secrets

Bitcoin and Ethereum: Bitcoin climbed to the $26600 level

Bitcoin and Ethereum: Bitcoin climbed to the $26600 level

Today we see the continuation of the bullish consolidation of Bitcoin that started yesterday at the $26200 level. The price of Ethereum is in retreat today from the $1850 level.

Bitcoin chart analysis

Today we see the continuation of the bullish consolidation of Bitcoin that started yesterday at the $26200 level. Growth is progressing slowly; we are now at the $26490 level. Last night we had one price jump to the $26800 level, but we quickly returned to the starting point and continued the previous consolidation.

We need a positive consolidation and a new breakthrough to the $26800 level for a bullish option. Then we would move above the EMA50 moving average and could get its support to continue to the bullish side. Potential higher targets are $27000 and $27200 levels. If we were to slip below $26000, the pressure on the price would increase, and there would be another pullback.

Ethereum chart analysis

The price of Ethereum is in retreat today from the $1850 level. Now, we have bearish consolidation taking place, and we are close to the $1840 level. If this trend continues, we could soon test the previous low at $1820. Further instability at that level would lead to continued retreat and descent into the zone around the $1800 level.

For a bullish option, we need a positive price consolidation and a jump above the $1860 level. In this way, we would climb above the EMA50 moving average, which could positively affect the continuation of the recovery. Potential higher targets are the $1870 and $1880 levels.

The post Bitcoin and Ethereum: Bitcoin climbed to the $26600 level appeared first on FinanceBrokerage.

Enter your email address below and we’ll send you our best practices.

    You can unsubscribe at any time. Redstatefoundation respects your privacy and strives to be transparent about our data collection practices. Please read our Privacy Policy and Terms of Use.

    You May Also Like

    Trading Secrets

    What is the marginal rate of substitution and its formula? Key Takeaways: Trade-offs and Satisfaction: MRS shows the trade-offs consumers are willing to make...

    Trading Life

    Laura Wong Hon Chan is an interest rate options trader, who is currently a director at Bank of America Merrill Lynch in New York....

    Trading Secrets

    In this episode of StockCharts TV‘s The MEM Edge, Mary Ellen reviews what’s driving the markets higher and what to be on the lookout...

    Trading Secrets

    SPX Monitoring Purposes: Long SPX on 10/10/22 at 3612.39; sold 12/13/22 at 3669.91 = gain 1.59%. Monitoring Purposes GOLD: Long GDX on 10/9/20 at...