Connect with us

Hi, what are you looking for?

Trading Secrets

Bitcoin and Ethereum: Could Bitcoin rise to the $44000 level

Bitcoin and Ethereum: Could Bitcoin rise to the $44000 level

In yesterday’s afternoon, the price of Bitcoin rose to the $43300 level with a bullish impulse. Yesterday, the price of Ethereum launched a bullish impulse to the $2310 level.

Bitcoin chart analysis

In yesterday’s afternoon, the price of Bitcoin rose to the $43300 level with a bullish impulse. A quiet weekend was followed by a jump above the $43,000 level. During the morning, the price of Bitcoin rises to $43775 and forms this week’s high there. We pause in that zone and watch a pullback to the $43385 level. We remain still high compared to yesterday’s start of the week and can hope for a continuation on the bullish side.

Potential higher targets are $43500 and $43750 levels. We need a pullback below the $43000 level for a bearish option. We would break the support by falling below, putting additional pressure on Bitcoin to start falling to lower levels. Potential lower targets are $42750 and $42500 levels.

Ethereum chart analysis

Yesterday, the price of Ethereum launched a bullish impulse to the $2310 level. After consolidating at the $2240 support level yesterday before noon, in the afternoon we saw a bullish consolidation that continued today. This morning, we formed a high at the $2328 level. More positive in that we are now above the EMA200 moving average, and if we manage to stay above it, we will have a good position for further recovery. Potential higher targets are $2330 and $2340 levels.

For a bearish option, we need a price pullback below $2300 and the EMA200 moving average. A move below increases the pressure on Ethereum to continue its pullback until the next support. Potential lower targets are $2290 and $2280 levels. If we manage to stay above $2270, the price could start a bullish consolidation again.

The post Bitcoin and Ethereum: Could Bitcoin rise to the $44000 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 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...