- bitcoin price is rising towards the $29800 level, thus testing this week’s high at the $29900 level.
- ethereum price generates fresh bullish momentum above the $1600 level.
bitcoin Chart Analysis
bitcoin price is rising towards the $29800 level, thus testing this week’s high at the $29900 level. We are very close to testing the $30,000 level after almost two months. The day started at $28800, followed by bullish momentum to $29300. So, a new push and jump to the current level. The highest potential targets are the $30200 and $30400 levels.
We need a negative consolidation and a pullback to the previous support zone at the $29200 level for a bearish option. A drop below this level could signal a new pullback and a test of previous support levels. The possible lower targets are the $29,000 and $28,800 levels.
<img decoding="async" src="https://technicalterrence.com/wp-content/uploads/2023/10/Bitcoin-jumps-again-to-29900.jpg" alt="bitcoin Chart Analysis” width=”1024″ height=”620″/>
ethereum Chart Analysis
ethereum price generates fresh bullish momentum above the $1600 level. Today’s high price is $1620 and we are on track to rise to this week’s high of $1640. Last week we also tried to stay up, but we couldn’t. This would be our third attempt and we would have another chance to reach a new high. The highest potential targets are the $1650 and $1660 levels.
We need a new negative consolidation and a price retracement below the $1600 level for a bearish option. We could then expect to see a new pullback as there would be further pressure on the price due to the inability to continue on the bullish side. The lowest potential targets are the $1,580 and $1,560 levels. We could get additional support at the EMA50 moving average around the $1,570 level.
<img decoding="async" loading="lazy" src="https://technicalterrence.com/wp-content/uploads/2023/10/1698009631_37_Bitcoin-jumps-again-to-29900.jpg" alt="ethereum Chart Analysis” width=”1024″ height=”620″/>
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