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