Bitcoin
Bitcoin, BTC to USD, fell by 1.07% in the week ending 24th October. Following a 12.48% rally from the week prior, Bitcoin ended the week at $60,847.0.
A mixed start to the week saw Bitcoin fall to a Monday low $59,883.0 before making a move.
Steering clear of the major support levels, Bitcoin rallied to a Wednesday all-time high and intraweek high $66,958.0.
Bitcoin broke through the first major resistance level at $64,990 before falling to a Saturday intraweek low $59,755.0.
Continuing to steer clear of the first major support level at $55,928, Bitcoin revisited $61,000 levels before falling back into the red.
4 days in the green that included a 3.66% rally on Tuesday delivered the upside for the week. A 5.76% slide on Thursday limited the upside, however.
For the week ahead
Bitcoin would need to move through the $62,520 pivot to support a run the first major resistance level at $65,285
Support from the broader market would be needed for Bitcoin to break back through to $65,000 levels.
Barring an extended crypto rally, the first major resistance level and last week’s all-time high $66,958.0 would likely cap any upside.
In the event of an extended breakout, Bitcoin could test resistance at $70,000 before any pullback. The second major resistance level sits at $69,723.
Failure to move through the $62,520 pivot would bring the first major support level at $58,082 into play.
Barring an extended sell-off, Bitcoin should steer clear of the sub-$55,000 levels. The second major support level at $55,317 should limit the downside.
At the time of writing, Bitcoin was up by 1.53% to $61,778.8. A mixed start to the week saw Bitcoin fall to an early Monday low $60,632.0 before rising to a high $62,111.0.
Bitcoin left the major support and resistance levels untested early on.
Ethereum
Ethereum rose by 6.11% in the week ending 24th October. Following a 12.66% rally from the previous week, Ethereum ended the week at $4,082.64.
A bearish start to the week saw Ethereum fall to a Monday…
