Bitcoin Bitcoin , BTC to USD, rallied by 11.70% in the week ending 3rd October.Reversing an 8.58% fall from the week prior, Bitcoin ended the week at $48,242.0.A mixed start to the week saw Bitcoin fall to a Wednesday intraweek low $40,804.0 before making a move.Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose.Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary.A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us.Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded.
Standard account offer spreads from 1 pips with no additional commission charges.Spreads on CFD indices start at 0.4 points.The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.While steering clear of the first major support level at $39,470, Bitcoin fell through the 38.2% FIB of $41,592.Finding mid-week support, however, Bitcoin rallied to a Sunday intraweek high $49,196.0 before easing back.
Bitcoin broke back through 38.2% FIB and the first major resistance level at $47,119 to end the week at $48,200 levels.4 days in the green that included an 9.86% jump on Friday delivered the upside for the week.
For the week ahead Bitcoin would need to avoid a fall through the $46,081 pivot to support a run the first major resistance level at $51,357.Support from the broader market would be needed for Bitcoin to break out from the 23.6% FIB of $50,473.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.In the event of an extended breakout, Bitcoin could test resistance at $55,000 levels before any pullback.The second major resistance level sits at $54,473.A fall through the $46,081 pivot would bring the first major support level at $42,965 into play.
Barring an extended sell-off, Bitcoin should steer clear of the sub-$40,000 levels and the second major support level at $37,689.The 38.2% FIB of $41,592 should limit the downside.At the time of writing, Bitcoin was down by 0.59% to $47,956.0.A mixed start to the week saw Bitcoin rise to an early Monday high $48,289.0 before falling to an early Monday low $47,770.0.Bitcoin left the major support and resistance levels untested early on.
Ethereum Ethereum rallied by 11.77% in the week ending 3rd October.Reversing an 8.05% decline from the previous week, Ethereum ended the week at $3,420.07.A bearish start to the week saw Ethereum fall to a Wednesday intraweek low $2,781.99 before making a move.Steering clear of the 38.2% FIB of $2,740 and the first major support level at $2,692, Ethereum rallied to a Sunday intraweek high $3,489.18.Ethereum broke through the 23.6% FIB of $3,369 and the first major resistance level at $3,388 to end the week at $3,400 levels.
5-days in the green that included a 10.36% breakout on Friday delivered the upside in the week.For the week ahead Ethereum would need avoid the 23.6% FIB of $3,369 and the $3,230 pivot level to support a run at the first major resistance level at $3,679.
Support from the broader market would be needed, however, for Ethereum to break out from $3,500 levels.Barring an extended crypto rally, the first major resistance level would likely cap any upside.In the event of another extended breakout, Ethereum could test resistance at $4,000 before any pullback.The second major resistance level sits at $3,938.
A fall through the 23.6% FIB of $3,369 and the $3,230 pivot would bring the first major support level at $2,972 into play.Barring an extended sell-off in the week, Ethereum should steer clear of the 38.2% FIB of $2,740.The second major support level sits at $2,523.At the time of writing, Ethereum was down by 1.12% to $3,381.88.A mixed start to the week saw Ethereum rise to an early Monday high $3,428.24 before falling to an early Monday low $3,352.36.While Ethereum left the major support and resistance levels untested, Ethereum briefly fell through the 23.6% FIB of $3,369..
