It was a bearish start to the week. Bitcoin fell to a Monday intraweek low $14,841.0 before making a move.
Steering clear of the first major support level at $13,842, Bitcoin rallied to a Friday intraweek high and new swing hi $16,481.0.
Falling short of the first major resistance level at $16,523, Bitcoin fell back to sub-$16,000 levels. A bearish end to the week saw Bitcoin fall to $15,700 levels before wrapping up the week at $15,900 levels.
3 days in the green that included a 3.74% rally on Thursday delivered the upside for the week.
For the week ahead
Bitcoin would need to avoid a fall through $15,762 pivot to support a run the first major resistance level at $16,684.
Support from the broader market would be needed for Bitcoin to break out from last week’s high $16,481.0.
Barring an extended crypto rally, the first major resistance level would likely cap any upside.
In the event of another breakout, Bitcoin could test resistance at $17,500 before any pullback. The second major resistance level sits 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 steer clear of sub-$15,000 support levels. The second major support level sits at $14,122.
At the time of writing, Bitcoin was up by 0.24% to $16,003.0. A mixed start to the week saw Bitcoin fall to an early Monday morning low $15,874.0 before rising to a high $16,043.0.
Bitcoin left the major support and resistance levels untested at the start of the week.