In This Article:
Bitcoin
Bitcoin, BTC to USD, rose by 3.16% in the week ending 7th November. Following a 0.82% gain from the week prior, Bitcoin ended the week at $63,263.0.
A bearish start to the week saw Bitcoin fall to a Monday intraweek low $59,522.0 before making a move.
Steering clear of the first major support level at $58,069, Bitcoin rose to a Tuesday intraweek high $64,291.0.
Coming up against the first major resistance level at $64,129, however, Bitcoin slid back to sub-$61,000 levels before finding support.
A bullish weekend saw Bitcoin break back through to $63,000 levels to end the week in positive territory.
3-days in the green that included a 3.77% rally on Tuesday and a 2.87% gain on Sunday delivered the upside for the week. A 2.36% slide on Thursday limited the upside, however.
At the time of writing, Bitcoin was up by 3.13% to $65,241.0. A bullish start to the week saw Bitcoin rally from an early Monday low $63,277.0 to an early Monday high $65,241.0.
Bitcoin broke through the first major resistance level at $65,195 early on.
For the week ahead
Bitcoin would need to avoid a fall back through the first major resistance level at $65,195 to bring the second major resistance level at $67,128 into play.
Support from the broader market would be needed for Bitcoin to break out from October’s ATH $66,958.0.
Barring an extended crypto rally, the second major resistance level would likely cap any upside.
In the event of an extended breakout, Bitcoin could test resistance at $70,000 before any pullback. The third major resistance level sits at $71,897.
A fall back through the first major resistance level and through the $62,359 pivot would bring the first major support level at $60,426 into play.
Barring an extended sell-off, Bitcoin should steer clear of the sub-$58,000 levels. The second major support level sits at $57,590.
Ethereum
Ethereum rose by 7.62% in the week ending 7th November. Following a 5.10% gain from the previous week, Ethereum ended the week at $4,617.02.
A mixed start to the week saw Ethereum fall to a Monday intraweek low $4,151.00 before making a move.
Steering clear of the first major support level at $3,972, Ethereum rallied to a Wednesday intraweek high and ATH $4,670.98.
Ethereum broke through the first major resistance level at $4,535 before falling back to sub-$4,400 levels.
A bullish end to the week, however, saw Ethereum break back through the first major resistance level to end the week at $4,600 levels
4-days in the green that included a 6.29% rally on Tuesday delivered the upside in the week.
At the time of writing, Ethereum was up by 1.71% to $4,696.06. A mixed start to the week saw Ethereum fall to an early Monday low $4,616.50 before rising to a new ATH $4,711.00.