Connect with us

Hi, what are you looking for?

Deluxe Investment Group – Investing and Stock NewsDeluxe Investment Group – Investing and Stock News

Economy

Bitcoin and Ethereum: Bitcoin pullback below $42000

Bitcoin and Ethereum: Bitcoin pullback below $42000

The pressure on the price of Bitcoin yesterday influenced us to see a drop below the $45000 level.
The price of Ethereum slipped to the $2101 level yesterday, forming a one-month low.

Bitcoin chart analysis

The pressure on the price of Bitcoin yesterday influenced us to see a drop below the $45000 level. In just two hours, the price dropped from $45,600 to $41,454. After that, we return above $42000 and manage to hold on, triggering a bullish consolidation to the $43200 level. For now, we encounter resistance here, and additional pressure is created by the EMA50 moving average. We would have to break the above if we want to see the recovery continue.

Potential higher targets are $43600 and $44000 levels. We need a pullback and a new test of the $42000 support level for the bearish option. The inability to hold above leads to a breakout below and thus sends the price of Bitcoin to lower levels. Potential lower targets are $41600 and $41200 levels.

Ethereum chart analysis

The price of Ethereum slipped to the $2101 level yesterday, forming a one-month low. There we find support and quickly climb to the $2200 level. After that, we are moving in the $2200-$2250 range so far. We need a break above $2050 to release the bearish pressure and trigger a bullish option. Potential higher targets are $2275 and $2300 levels. Additional resistance to further continuation will be in the EMA50 moving average at the $2300 level.

We need a negative consolidation and pullback below the $2200 support for a bearish option. A drop below would indicate a further pullback and a drop in the price of Ethereum to lower levels. Potential lower targets are $2175 and $2150 levels. Depending on bearish pressure, we cannot rule out a visit to yesterday’s $2100 support level.

 

The post Bitcoin and Ethereum: Bitcoin pullback below $42000 appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Latest News, And Articles.



    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    ERP or Enterprise Resource Planning solutions help businesses of all sizes manage their daily business operations. First used in the 1990s, ERP systems have...

    Latest News

    Florida Gov. Ron DeSantis (R) needs a massive infusion of cash in the next two months of the Republican presidential primary race to help...

    Latest News

    The United States could be on track for a Joe Biden-Donald Trump rematch in 2024, but it’s the president’s son Hunter Biden who earned...

    Latest News

    A week ago, a Jan. 6 defendant was arrested near Barack Obama’s in D.C. with what the government says was a machete, two guns...

    Disclaimer: Deluxeinvestmentgroup.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 © 2023 deluxeinvestmentgroup.com