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It was a bearish start to the week. Bitcoin fell to a Monday intraweek low of $ 14,841.0 before making a move.
Avoiding the first major support level at $ 13,842, Bitcoin rallied to an intraweek high on Friday and a new high at $ 16,481.0.
Failing to reach the first major resistance level at $ 16,523, Bitcoin dropped to levels below $ 16,000. A bearish end of the week saw Bitcoin drop to $ 15,700 levels before ending the week at $ 15,900 levels.
3 days in green that included a 3.74% rally on Thursday provided the upside for the week.
For the next week
Bitcoin should avoid a fall through the $ 15,762 pivot to support a run at the first major resistance level at $ 16,684.
Support from the broader market would be needed for Bitcoin to break out of last week’s high of $ 16,481.0.
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 $ 17,500 before any pullback. The second major resistance level is found at $ 17,402.
Failure to avoid a fall through the $ 15,762 pivot would bring the first major support level at $ 15,044 into play.
Barring an extended sell-off, however, Bitcoin should avoid support levels below $ 15,000. The second major support level is found at $ 14,122.
At the time of writing, Bitcoin was up 0.24% to $ 16,003.0. A mixed start to the week saw Bitcoin drop to a Monday morning low of $ 15,874.0 before climbing to a high of $ 16,043.0.
Bitcoin left the major support and resistance levels untested earlier in the week.
