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Bitcoin and Ethereum: Bitcoin’s Price Between $20,300-20,600

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Le Bitcoin repasse les 19 000 dollars du coin vendredi 14 octobre 2022

Bitcoin and Ethereum: Bitcoin’s Price Between $20,300-20,600

  • Bitcoin price has been stable in the last two days and is moving in the range of $20300-20600.
  • The price of Ethereum continues the bearish consolidation that started last week.

Bitcoin chart analysis

Bitcoin price has been stable in the last two days and is moving in the range of $20300-20600. All eyes are on the Fed tonight and interest rates. Viewed this way, Bitcoin is in a bearish consolidation from $21000 to the current $20400. And we may see a descent and a test of the $20,000 level. To continue the bearish option, we need a drop below that level. After that, we could expect the price of Bitcoin to continue its further decline. We would again return to the movement zone during the previous month of October.

Potential lower targets are $19,500 and $19,000 levels. We need a positive consolidation and a return to the $21000 resistance level for a bullish option. Then we need to hold on there and try to break above the $21000 level. After that, we need a new bullish impulse to continue the bitcoin recovery further. Potential higher targets are $21500 and $22000 levels.

Bitcoin Chart Analysis

Ethereum chart analysis

The price of Ethereum continues the bearish consolidation that started last week. Today’s low was at the $1535 level, and we could expect a continuation of the decline to the $1500 support level. In the previous attempt, the price of Ethereum found that support and climbed up to the $1650 level. If we could do the same now, the price would have a new chance to continue the bullish option. It is necessary to first climb up to the $1600 level and try to stay there for a certain period of time.

Should we succeed in this, the next thing we need is a new bullish impulse to continue the recovery. Potential higher targets are the $1700 and $1750 levels. We need a negative consolidation and a test of the $1500 support level for a bearish option. A break below would increase price pressure, and we would likely see a continuation of the decline. Potential lower targets are $1450 and $1400 support levels.

Ethereum chart analysis

 

The post Bitcoin and Ethereum: Bitcoin’s Price Between $20,300-20,600 appeared first on FinanceBrokerage.

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