NEWSLETTER
- bitcoin price is slowly moving away from the $44,000 level.
- The graphical picture for ethereum is different compared to bitcoin as this morning we saw the price jump to the $2,392 level.
bitcoin Chart Analysis
bitcoin price is slowly moving away from the $44,000 level. At one point yesterday, we fell to the $42,800 level. Since then, we have been in a sideways consolidation in the $42800-$43800 range. We are under more pressure as we are now closer to the lower support level, which could affect us seeing a retest of support. A break below would lead to the formation of a new low and, therefore, we would have confirmation of the bearish option. The possible lower targets are the $42400 and $42000 levels.
We need a positive consolidation and a price movement towards the $44,000 level for a bullish option. If we cross above we would return to the bullish path again. With the new momentum, we would have the opportunity to initiate further growth and test the previous high from earlier in the week. The highest potential targets are the $44400 and $44800 levels.
<img decoding="async" src="https://technicalterrence.com/wp-content/uploads/2023/12/Bitcoin-falls-below-43500-while-Ethereum-jumps-to-2392.jpg" alt="bitcoin Chart Analysis” width=”1024″ height=”620″/>
ethereum Chart Analysis
The graphical picture of ethereum is different compared to bitcoin as this morning we saw the price jump to the $2392 level. For now, we remain below that level and the price is making some pullback towards the $2350 level . We are currently in that area, hoping to hold on and move to the bullish side. After that, we would rise to the $2,380 level and be within reach of the $2,400 level.
The highest potential targets are the $2420 and $2440 levels. We need a negative consolidation and a drop below the support at the $2,350 level for a bearish option. With that, we would form a new daily low and we would have confirmation of the movement towards the bearish side. The possible lower targets are the $2320 and $2300 levels.
<img decoding="async" loading="lazy" src="https://technicalterrence.com/wp-content/uploads/2023/12/1702228211_512_Bitcoin-falls-below-43500-while-Ethereum-jumps-to-2392.jpg" alt="ethereum Chart Analysis” width=”1024″ height=”620″/>
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