In This Article:
Bitcoin
Bitcoin rallied by 5.84% in the week ending 20th September. Following on from a 0.54% gain from the week prior, Bitcoin ended the week at $10,934.5.
It was a particularly bullish start to the week. Bitcoin rallied from a Monday intraweek low $10,259.0 to a Saturday intraweek high $11,185.0.
Steering clear of the first major support level at $9,935, Bitcoin broke through the first major resistance level at $10,675 and the second major resistance level at $11,019.
It was a bearish end to the week, however. Bitcoin fell back through the second major resistance level to wrap up the week at sub-$11,000 levels.
4 days in the green that included a 3.47% gain on Monday delivered the upside. A 1.47% slide on Sunday limited the upside for the week, however.
For the week ahead
Bitcoin would need to avoid a fall through $10,793 pivot to support a run the first major resistance level at $11,327.
Support from the broader market would be needed for Bitcoin to break out from last week’s high $11,185.
Barring an extended crypto rally, the first major resistance level and resistance at $11,500 would likely pin Bitcoin back.
In the event of a breakout, Bitcoin could test the second major resistance level at $11,719 and resistance at $12,000 before any pullback.
Failure to avoid a fall through the $11,793 pivot would bring the first major support level at $10,401 into play.
Barring an extended sell-off, Bitcoin should steer clear of sub-$10,000 levels. The second major support level sits at $9,867.
At the time of writing, Bitcoin was up by 0.28% to $10,964.6. A mixed start to the week saw Bitcoin fall to an early Monday morning low $10,917.0 before rising to a high $10,993.0.
Bitcoin left the major support and resistance levels untested at the start of the week.
Monero’s XMR
Monero’s XMR rallied by 8% in the week ending 20th September. Following on from a 6.93% gain from the previous week, Monero’s XMR ended the week at $92.75.
It was a mixed start to the week. Monero’s XMR fell to a Monday intraweek low $84.31 before finding support.
Steering well clear of the first major support level at $78.57, Monero’s XMR rallied to a Saturday intraweek high $95.27.
Monero’s XMR broke through the 23.6% FIB of $90 and the first major resistance level at $91.77 before easing back.
A bearish end to the week saw Monero’s XMR slide back to $90 levels before steadying. Monero’s XMR fell back through the first major resistance level at $91.77 to test support at the 23.6% FIB of $90.
Off the back of the late support, Monero’s XMR broke back through the first major resistance level to wrap up the week at $92 levels.