Connect with us

Hi, what are you looking for?

Trading Secrets

Bitcoin and Ethereum: Bitcoin is holding below $29200

Bitcoin and Ethereum: Bitcoin is holding below $29200

Today’s Bitcoin price movement is in the $29100-$29200 range. Today’s low price of Ethereum is 1830$ level.

Bitcoin chart analysis

Today’s Bitcoin price movement is in the $29100-$29200 range. Yesterday, we had one jump to $29400, but we quickly returned to the previous movement zone. The price is still attracted by the $29,000 level, which does not allow it to start a recovery.

We need a positive consolidation and a new jump to $29400 to start a new bullish option. Then, we need a breakout above, and we would jump above the EMA50 moving average. Potential higher targets are $29500 and $29600 levels.

We need a negative consolidation and pullback to the support at $29,000 for a bearish option. We need a break below to continue to the bearish side. Potential lower targets are $28900 and $28800 levels.

Ethereum chart analysis

Today’s low price of Ethereum is 1830$ level. We managed to hold above it and now expect to see a continuation to the bullish side. We need to break above the $1840 level and hold above it. This would lead to consolidation at that level, and the price of Ethereum would have a better position from which it could proceed to the bullish side. Potential higher targets are $1850 and $1860 levels.

We need a negative consolidation and a price pullback below the $1830 level for a bearish option. After that, I’m looking at the $1820 support level. Failure to hold above it would make prices break below and form a new lower low. Potential lower targets are $1810 and $1800 levels.

The post Bitcoin and Ethereum: Bitcoin is holding below $29200 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 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...

    Trading Secrets

    I don’t like it when parts of a puzzle don’t match. You just don’t get a clear picture. As participants in the markets, we...