[ad_1]
It was a choppy start to the week. Bitcoin fell to a Monday intraweek low of $ 11,111.0 before finding support.
Avoiding the first major support level at $ 10,782, Bitcoin returned to an intraweek high on Monday at $ 11,740.0.
Coming up against the first major resistance level at $ 11,746, Bitcoin fell to $ 11,210 levels on Friday.
A relatively bullish end of the week after 2 consecutive days in green led to the week’s upside.
4 days in green that included a 1.54% gain on Monday provided the upside for the week. A 1.60% decline on Friday, however, limited the week’s upside.
For the next week
Bitcoin should avoid a fall through the $ 11,456 pivot to support a run at the first major resistance level at $ 11.802.
Support from the broader market would be needed for Bitcoin to break out of last week’s high of $ 11,740.0.
Barring an extended cryptocurrency rally, the first major resistance level and high of $ 11,740.0 from last week would likely limit any upside.
In the event of a breakout, Bitcoin could test resistance at $ 12,000 before any pullback. The second major resistance level is found at $ 12,085.
Failure to avoid a fall through the $ 11,456 pivot would bring the first major support level at $ 11,173 into play.
Barring an extended sell-off, Bitcoin should avoid support levels below $ 11,000. The second major support level is found at $ 10,827
At the time of writing, Bitcoin was down 0.31% to $ 11,482.0. A mixed start to the week saw Bitcoin hit a Monday morning high of $ 11,550.0 before falling to a low of $ 11,459.1.
Bitcoin left the major support and resistance levels untested earlier in the week.
