{"id":3474,"date":"2024-10-11T18:03:09","date_gmt":"2024-10-11T18:03:09","guid":{"rendered":"https:\/\/investingsstrategist.com\/index.php\/2024\/10\/11\/bitcoin-and-ethereum-bitcoin-drops-to-new-low-on-thursday\/"},"modified":"2024-10-11T18:03:09","modified_gmt":"2024-10-11T18:03:09","slug":"bitcoin-and-ethereum-bitcoin-drops-to-new-low-on-thursday","status":"publish","type":"post","link":"https:\/\/investingsstrategist.com\/index.php\/2024\/10\/11\/bitcoin-and-ethereum-bitcoin-drops-to-new-low-on-thursday\/","title":{"rendered":"Bitcoin and Ethereum: Bitcoin drops to new low on Thursday"},"content":{"rendered":"<div>\n<div><\/div>\n<h1>Bitcoin and Ethereum: Bitcoin drops to new low on Thursday<\/h1>\n<p><span>The price of Bitcoin on Thursday retreated to $58867 at a new weekly low<\/span><br \/>\n<span>Last night, the price of Ethereum dropped to $2328, a new weekly low<\/span><\/p>\n<h2>Bitcoin chart analysis<\/h2>\n<p><span>The price of Bitcoin on Thursday retreated to $58867 at a new weekly low. With that step, the price broke last week\u2019s low. After a quick consolidation, we are back above the $60,000 level again this morning. For now, we have resistance at $60,800, where the EMA 50 moving average is creating additional pressure. We need momentum above to strengthen bullish <a href=\"https:\/\/www.financebrokerage.com\/gold-and-silver-new-higher-targets-and-prices-for-friday\/\">momentum<\/a> and continue today\u2019s consolidation.<\/span><\/p>\n<p><span>Potential higher targets are $61000 and $61500 levels. EMA 200 moving average could represent an even higher resistance in the $62000 zone. For a bearish option, we need a negative consolidation and a descent of Bitcoin below $60000. With that step, we go to a new daily low and confirm the bearish pressure on the price. Potential lower targets are $59500 and $59000 levels.<\/span><\/p>\n<\/p>\n<p>\u00a0<\/p>\n<h2>Ethereum chart analysis<\/h2>\n<p><span>Last night, the price of Ethereum dropped to $2328, a new weekly low. Soon after, we saw the initiation of a bullish consolidation up to the $2380 level. This morning, the price continued its recovery from there, breaking above $2400. Currently, we also have the support of the EMA 50 moving average, but we have resistance at the $2420 level. If the support holds, we can hope for a bullish impulse to a new daily high.<\/span><\/p>\n<p><span>Potential higher targets are $2440 and $2460 levels. We will have a big resistance in the $2440 zone in the EMA 200 moving average. For a bearish option, we need a negative consolidation and a drop below the EMA 200 moving average first. After that, we expect testing of the daily open level. This time, we hope for a break below to a new low, which will confirm the strengthening of the bearish momentum. Potential lower targets are $2360 and $2340 levels.<\/span><\/p>\n<\/p>\n<p>\u00a0<\/p>\n<p>The post <a href=\"https:\/\/www.financebrokerage.com\/bitcoin-and-ethereum-bitcoin-drops-to-new-low-on-thursday\/\">Bitcoin and Ethereum: Bitcoin drops to new low on Thursday<\/a> appeared first on <a href=\"https:\/\/www.financebrokerage.com\/\">FinanceBrokerage<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin and Ethereum: Bitcoin drops to new low on Thursday The price of Bitcoin on Thursday retreated to $58867 at a new weekly low Last night, the price of Ethereum dropped to $2328, a new weekly low Bitcoin chart analysis The price of Bitcoin on Thursday retreated to $58867 at a new weekly low. With [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":3475,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-3474","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"_links":{"self":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts\/3474","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/comments?post=3474"}],"version-history":[{"count":0,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/posts\/3474\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media\/3475"}],"wp:attachment":[{"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/media?parent=3474"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/categories?post=3474"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investingsstrategist.com\/index.php\/wp-json\/wp\/v2\/tags?post=3474"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}