Bitcoin (BTC) Bitcoin , BTC to USD, rose by 1.31% in the week ending 12th December.Partially reversing a 13.70% slide from the week prior, Bitcoin ended the week at $50,123.A mixed start to the week saw Bitcoin rise to Tuesday intraweek high $51,970 before hitting reverse.Falling well short of the first major resistance level at $58,554, Bitcoin tumbled to a Saturday intraweek low $46,872.Steering clear of the first major support level at $41,014, however, Bitcoin found weekend support to wrap up the week at $50,100 levels.4-days in the green that included a 4.70% rally on Saturday delivered the upside.
At the time of writing, Bitcoin was down by 1.02% to $48,968.A mixed start to the week saw Bitcoin rise to an early Monday morning high $50,234 before falling to a low $48,488.Bitcoin left the major support and resistance levels untested early on.For the week ahead Bitcoin would need to move back through the $49,655 pivot to bring the first major resistance level at $52,431 into play.
Support from the broader market would be needed for Bitcoin to break out from last week’s high $51,970.Barring an extended crypto rally, the first major resistance level and the 23.6% FIB of $53,628 would likely cap any upside.In the event of a breakout, Bitcoin could test resistance at $55,000 before any pullback.The second major resistance level sits at $54,753.Failure to back move through the $49,655 pivot would bring the first major support level at $47,340 into play.
Barring another extended sell-off, Bitcoin should avoid the second major support level at $44,557 and the 38.2% FIB of $44,144.Ethereum (ETH) Ethereum fell by 1.67% in the week ending 12th December.Following a 2.21% decline from the previous week, Ethereum ended the week at $4,203.After a choppy start to the week, Ethereum rose to a Thursday intraweek high $4,491 before hitting reverse.Falling short of the first major resistance level at $4,800, Ethereum slid to a Saturday intraweek low $3,835.
Steering clear of the first major support level at $3,590, however, Ethereum broke back through to $4,100 levels to reduce the deficit.3-days in the red that included a 7.53% sell-off on Thursday delivered the downside in the week.At the time of writing, Ethereum was down by 3.76% to $3,978.A mixed start to the week saw Ethereum rise to an early Monday morning high $4,146 before falling to a low $3,954.Ethereum left the major support and resistance levels untested early on.
For the week ahead Ethereum would need to move through the $4,153 pivot level to bring the first major resistance level at $4,471 into play.Support from the broader market would be needed, however, for Ethereum to break back through to $4,400 levels.Barring an extended crypto rally, the first major resistance level and last week’s high $4,491 would likely cap any upside.In the event of another extended breakout, Ethereum could test resistance at $5,000 before any pullback.The second major resistance level sits at $4,809.Ethereum would need plenty of support, however, to breakout from its ATH $4,868.Failure to move through the $4,153 pivot would bring the first major support level at $3,815 and the 23.6% FIB of $3,738 into play.
Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $3,497..
