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- Yesterday, the price of bitcoin was consolidating in the range of $37,600 to $38,200.
- In the previous hour, ethereum price was back above the $2,100 level.
bitcoin Chart Analysis
Yesterday, the price of bitcoin was consolidating in the range of $37,600 to $38,200. Early this morning, bitcoin started a bullish consolidation and rose to $38839. At that level, we formed a new price high of the previous year and a half. We find resistance for sa and see a pullback to the $38600 level. We expect the price to return to the $38400 level where it could gain new support and momentum to start a new bullish consolidation.
The highest potential targets are the $39000 and $39200 levels. We need a negative consolidation and a price drop below the $38,200 level for a bearish option. In this way we would fall below yesterday's high, increasing pressure on prices. Possible lower targets are the $3800 and $37800 levels. Additional support in the area around $37800 is the EMA50 moving average.
<img decoding="async" src="https://technicalterrence.com/wp-content/uploads/2023/12/Bitcoin-jumped-to-3880-and-Ethereum-returned-to-2100.jpg" alt="bitcoin Chart Analysis” width=”1024″ height=”620″/>
ethereum Chart Analysis
In the previous hour, ethereum price was back above the $2,100 level. In this way, we formed this week's high and broke the previous resistance at the $2080 level. To continue further towards the bullish side, we need to stay above $2080 because there we would form a bottom from which we would start the continuation towards the bullish side. The highest potential targets are the $2,120 and $2,130 levels.
We need a negative consolidation and a price pullback to the $2060 level for a bearish option. In this way, we would begin a fall below the previous low and thus strengthen the bearish momentum. The possible lower targets are the $2050 and $2040 levels. We will have additional support in the area around $2050 at the EMA50 moving average.
<img decoding="async" loading="lazy" src="https://technicalterrence.com/wp-content/uploads/2023/12/1701544360_209_Bitcoin-jumped-to-3880-and-Ethereum-returned-to-2100.jpg" alt="ethereum Chart Analysis” width=”1024″ height=”620″/>
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