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Bitcoin Price Breaks Above $44000: What You Need to Know

Bitcoin Price Breaks Above $44000: What You Need to Know

Yesterday, the bitcoin price jumped above the $44250 level with a strong bullish impulse.
The price of Ethereum managed to cross above the $2400 level with a bullish consolidation yesterday.

Bitcoin chart analysis

Yesterday, the bitcoin price jumped above the $44250 level with a strong bullish impulse. This morning, we continued up to $44766, and a new price high was formed there. Bitcoin stopped there and initiated a slight pullback to the $44400 level. We are now monitoring whether we will be able to hold above this zone or see a breakout below. With a break below, we would form a new daily low, increasing the pressure on the price to continue its retreat to a better support level.

Potential lower targets are $44250 and $44000 levels. EMA200 is in the zone around $43000, and we cannot count on its support at the moment. For a bullish option, it is necessary for Bitcoin to return to the $44750 resistance zone. This would give us a new attempt to move above, and the potential higher targets are the $44800 and $45000 levels.

Ethereum chart analysis

The price of Ethereum managed to cross above the $2400 level with a bullish consolidation yesterday. The growth continued this morning to the $2444 level. We stopped at that level, and the price made a pullback to the $2410 support level. For now, we have some support, but we remain under slight bearish pressure to move lower to better support. Potential lower targets are $2400 and $2380 levels.

If we want to continue on the bullish side, Ethereum should stay above $2400 and form a bottom there. In this way, he would create a support from which he would have the opportunity to start a new growth. Potential higher targets are $2450 and $2460 levels.

 

The post Bitcoin Price Breaks Above $44000: What You Need to Know appeared first on FinanceBrokerage.

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