Connect with us

Hi, what are you looking for?

Trading Secrets

Bitcoin and Ethereum: Bitcoin is holding above $43500

Bitcoin and Ethereum: Bitcoin is holding above $43500

Yesterday, Bitcoin’s attempt to reach the $45,000 price was stopped at the $44,800 level. The price of Ethereum is in a slight retreat after failing to reach the $2300 level yesterday

Bitcoin chart analysis

Yesterday, Bitcoin’s attempt to reach the $45,000 price was stopped at the $44,800 level. We stop there and make a bearish impulse to the $42630 level, where we get new support and initiate a bullish consolidation that is still on the chart. This moves us to the $44400 level, and we still have room to try to hold above the $44000 level. If we succeed in this, the price would have a good initial position to attack the transient high at the $44800 level again.

Potential higher targets are $45000 and $45200 levels. We need a negative consolidation and price pullback below the $43500 level for a bearish option. This is where the EMA50 moving average awaits us, and a break below it would further increase the pressure on the bitcoin price. After that, we would look at the $43,000 level as the next support point. Potential lower targets are $42750 and $42500 levels.

Ethereum chart analysis

The price of Ethereum is in a slight retreat after failing to reach the $2300 level yesterday. After that, we watched a pullback by forming a low at the $2220 level. Since then, the movement has been in the $2220-$2270 range. We need a stronger bullish impulse to break through this consolidation and threaten the $2300 level again.

Additional pressure in that zone also creates the EMA50 moving average and we would have to skip it to continue to the bullish side. We need a negative consolidation and a price drop to the $2200 support level for a bearish option. This is where we would test yesterday’s support zone. Potential lower targets are the $2180 and $2160 levels.

The post Bitcoin and Ethereum: Bitcoin is holding above $43500 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...