Price of Bitcoin Reaches $46735: What Can We Expect Next?

The price of Bitcoin made a jump above the $45,000 level yesterday. The price of Ethereum is currently at this week’s high at the $2479 level.

Bitcoin chart analysis

The price of Bitcoin made a jump above the $45,000 level yesterday. Today, we are watching the continuation and climbing to the $46735 level. In this way, a four-week price high was formed. The price remains in a bullish surge, and we expect growth to new higher levels. Potential higher targets are $47000 and $47200 levels.

For now, there is no indication of a bearish option. For such a thing, a pullback of the price below the $46,000 level is required. Revisiting this level could affect us to be under more bearish pressure. A break below would be the next sign of price weakening and continued retreat to lower levels. Potential lower targets are $45500 and $45000 levels.

Ethereum chart analysis

The price of Ethereum is currently at this week’s high at the $2479 level. Since the beginning of this week, the price has been in a strong bullish trend. We started the week at the $2280 level, and from that level, we started a bullish consolidation that continues today. On Tuesday, we found support in the EMA200 moving average. If this consolidation continues, the potential higher targets are $2500 and $2520.

We need a price pullback to the $2400 level for a bearish option. Yesterday, we managed to break above that level and get support there. This time, a new push at that level could lead to a breakout below. With that, we would form a new low and get confirmation of the bearish momentum. Potential lower targets are $2380 and $2360 levels.

 

The post Price of Bitcoin Reaches $46735: What Can We Expect Next? appeared first on FinanceBrokerage.