Connect with us

Hi, what are you looking for?

Investing

Bitcoin and Ethereum: Bitcoin climbs to the $29000 level

Bitcoin and Ethereum: Bitcoin climbs to the $29000 level

Today we see the price of Bitcoin above the $29000 level for the first time in the past month and a half. 
Ethereum is back above the $1800 level today. 

Bitcoin chart analysis

Today we see the price of Bitcoin above the $29000 level for the first time in the past month and a half. A new high was formed at the $29014 level. After that, we see a minor pullback to the $28850 level, while we could look for support at the $28700 level. A price drop below this level could send us down to $28,000. Since June 15, the price of Bitcoin has advanced from $24756 to $29014 level.

For a bullish option, we need a continuation of positive consolidation and a break above the $29000 level. After that, it is necessary to das e and maintain that up before we continue up. Potential higher targets are $29250 and $29500 levels. The main psychological target is the $30,000 level.

Ethereum chart analysis

Ethereum is back above the $1800 level today. A new ten-day high was formed at the $1820 level. We are now looking for support at the $1800 level in order to continue the growth and recovery. Potential higher targets are the $1840 and $1860 levels.

We need a negative consolidation and pullback below the $1800 level for a bearish option. After that, we look at the $1780 level, the place of the previous consolidation and holding price. A breakout below would return us to the previous channel of movement. Potential lower targets are $1760 and $1740 levels. In the zone around the $1740 level, we could get support in the EMA50 moving average and start a new bullish trend from there.

The post Bitcoin and Ethereum: Bitcoin climbs to the $29000 level appeared first on FinanceBrokerage.

    You May Also Like

    Economy

    Boeing’s crew spacecraft Starliner will stay docked with the International Space Station into August, NASA confirmed on Thursday, as the mission remains on hold...

    Editor's Pick

    In this edition of StockCharts TV‘s The Final Bar, Dave shows how breadth conditions have evolved so far in August, highlights the renewed strength in the...

    Stock

    S&P 500 pared back its intraday gain on Wednesday following a Bloomberg report that Royal Group has built a multi-billion-dollar short position in U.S....

    Economy

    A U.S. judge has ruled that former Bed Bath & Beyond investor Ryan Cohen can be sued by investors over a tweet he posted featuring an...

    Disclaimer: Richpeoplenetworks.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 Richpeoplenetworks.com