Bitcoin is near a weekly high

bitcoin price retraced to the $66,600 support level on Thursday, October 17
ethereum price continues to consolidate above $2600 on Friday, October 18

bitcoin Chart Analysis

bitcoin price retreated to the $66,600 support level on Thursday, October 17. After a brief consolidation in that area and the support of the 50 EMA, we began a recovery above the $67,000 level. The price continued to rise towards the $68335 level. We found minor resistance at this level and retreated towards the $67,900 level. bitcoin remains very bullish and we hope to return to the bullish side soon.

The highest potential targets are the $68500 and $69000 levels. For a bearish option, we need stronger bearish momentum below the $67500 level. Down there we would test the daily opening level. Then, we need a break below to form a new daily low and confirm the move to the bearish side. The lowest possible targets are the $67,000 and $66,500 levels.

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ethereum Chart Analysis

ethereum price continues to consolidate above $2,600 on Friday, October 18. We have resistance in the $2650 area for the second day in a row. The ponovo nailazi na otpor u toj zonei price drops to $2635. Now we need a new support level to stay on the bullish side and continue growth. The highest potential targets are the $2660 and $2680 levels.

For a bearish option, ethereum price must decline back to the daily opening level of $2,605. If it does not stay there, the bearish momentum will increase and send us to a new low. The 50 EMA moving average is moving towards the bearish side, which puts additional pressure on the price. The lowest potential targets are the $2,600 and $2,580 levels. At $2,560, ethereum will retest the 200 EMA moving average, which received support earlier in the week.

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