- bitcoin price is pulling back after jumping to the $35968 level on Thursday.
- ethereum price formed a new high yesterday at the level of $1874.
bitcoin Chart Analysis
bitcoin price is pulling back after jumping to the $35968 level on Thursday. The pullback takes us to the $34250 level and we are now testing potential support at the EMA50 moving average here. If price pressure continues, a break below is the next step for bitcoin price. The possible lower targets are the $34,000 and $33,500 levels.
For a bullish option, we need a positive consolidation and a move above the $34,600 level. So, we would have to hold there to trigger the continuation of the bitcoin price recovery with the next push.
The highest potential targets are the $34800 and $35200 levels. Depending on the strength of the momentum, the price could rise and test the previous high of $36,000.
<img decoding="async" src="https://technicalterrence.com/wp-content/uploads/2023/11/Bitcoin-pulls-back-towards-the-34000-level.jpg" alt="bitcoin Chart Analysis” width=”1024″ height=”620″/>
ethereum Chart Analysis
ethereum price formed a new high yesterday at the level of $1874. This was followed by a pullback to the first support at the $1,820 level. The price then tried to start a bullish consolidation but stopped at the $1840 level. Failure to break out will lead to another pullback and a drop to the $1,780 level.
In this area we test the EMA50 moving average, looking for possible support there. A break below leads to the formation of a new low, thus confirming bearish dominance. The price would continue to retrace until it reaches lower support. The possible lower targets are the $1760 and $1740 levels.
<img decoding="async" loading="lazy" src="https://technicalterrence.com/wp-content/uploads/2023/11/1699193142_126_Bitcoin-pulls-back-towards-the-34000-level.jpg" alt="ethereum Chart Analysis” width=”1024″ height=”620″/>
ADDITIONAL VIDEO: Weekly summary of market news
!function(f,b,e,v,n,t,s){if(f.fbq)return;n=f.fbq=function(){n.callMethod?n.callMethod.apply(n,arguments):n.queue.push(arguments)};if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′;n.queue=();t=b.createElement(e);t.async=!0;t.src=v;s=b.getElementsByTagName(e)(0);s.parentNode.insertBefore(t,s)}(window,document,’script’,’https://connect.facebook.net/en_US/fbevents.js’);fbq(‘init’,’504526293689977′);fbq(‘track’,’PageView’)
