[ad_1]
Bitcoin
Bitcoin rallied 12.69% in the week ending 8th November. After a 5.52% gain from the previous week, Bitcoin ended the week at $ 15,500.0.
It was a bearish start to the week. Bitcoin fell to a Monday intraweek low of $ 13,207.0 before making a move.
Avoiding the first major support level at $ 13,006, Bitcoin reached an intraweek high on Friday at $ 15,888.0.
Bitcoin broke through the first major resistance level at $ 14,280 and the second major resistance level at $ 14.805.
Falling below the $ 16,000 levels, Bitcoin returned to sub-$ 14,500 levels on Saturday ahead of a bullish end of the week.
A recovery on Sunday saw Bitcoin break through the second major resistance level to end the week at $ 15,500.
5 days in the green that included a 10.03% rally on Friday and a 4.41% rally on Sunday provided the upside for the week. A drop of 4.67% on Saturday, however, limited the week’s upside somewhat.
For the next week
Bitcoin should avoid a fall across the $ 14,865 pivot to support a run at the first major resistance level at $ 16,523.
Support from broader market would be needed for Bitcoin to break out of last week’s high of $ 15,888.0.
Barring an extended cryptocurrency rally, the first major resistance level would likely limit any upside.
In the event of another breakout, Bitcoin could test resistance at $ 17,000 before any pullback. The second major resistance level is found at $ 17.546.
Failure to avoid a fall through the $ 14,865 pivot would bring the first major support level at $ 13,842 into play.
Barring a prolonged sell-off, however, Bitcoin should avoid support levels below $ 13,500. The second major support level is found at $ 12,184.
At the time of writing, Bitcoin was up 0.11% to $ 15,517.0. A mixed start to the week saw Bitcoin drop to a Monday morning low of $ 15,424.0 before hitting a high of $ 15,608.0.
Bitcoin left the major support and resistance levels untested earlier in the week.
Ethereum
Ethereum was up 14.54% in the week ending 8th November. Reversing a 2.32% drop from the previous week, Ethereum ended the week at $ 454.61.
It was a bearish start to the week. Ethereum fell to an intraweek low on Tuesday at $ 370.50 before making a move.
The pullback saw Ethereum fall through the first major support level at $ 376.00.
Avoiding the 38.2% FIB of $ 367, Ethereum rallied to an intraweek high on Saturday at $ 468.98.
Ethereum broke through the first major resistance level at $ 415 and the second major resistance level at $ 432.
Failing to reach the third major resistance level at $ 471, Ethereum pulled back to end the week at $ 454.
5 days in green that included a 9.46% jump on Friday and a 4.30% rally on Sunday provided the upside for the week. However, a 3.42% drop on Monday and a 4.55% drop on Saturday reversed some of the gains.
For the next week
Ethereum should avoid a fall through the pivot level of $ 431 to support a run at the first major resistance level at $ 492.
However, support from the broader market would be needed for Ethereum to break out of last week’s high of $ 468.98.
Barring another extended crypto rally, the first major resistance level and resistance at $ 500 would likely limit any upside.
In the event of a breakout, Ethereum could test the second major resistance level at $ 530 before any pullback. However, the 62% FIB of $ 543 could limit any upside.
Failure to avoid a fall through the $ 431 pivot would put the first major support level at $ 394 into play.
Barring an extensive sell-off in the cryptocurrency market, however, Ethereum should avoid levels below $ 400. The second major support level is found at $ 333.
At the time of writing, Ethereum was up 0.19% to $ 455.48. A mixed start to the week saw Ethereum drop to a Monday morning low $ 451.59 before climbing to a high of $ 458.40.
Ethereum left the major support and resistance levels untested earlier in the week.
This article was originally published on FX Empire
