Bitcoin
Bitcoin, BTC to USD, fell by 7.09% in the week ending 18th July. Following a 2.93% loss from the previous week, Bitcoin ended the week at $31,820.0.
In a mixed start to the week, Bitcoin rose to a Monday intraweek high $34,655.0 before hitting reverse.
Falling short of the first major resistance level at $35,662, Bitcoin slid to a Friday intraweek low $31,044.0.
Bitcoin fell through the first major support level at $32,445 before briefly revisiting $32,450 levels.
Coming up against the first major support level, however, Bitcoin fell back to end the week at sub-$32,000 levels.
4 days in the red that included a 3.40% slide on Monday and a 2.84% fall on Thursday delivered the downside for the week.
For the week ahead
Bitcoin would need to move through the $32,506 pivot to support a run the first major resistance level at $33,969.
Support from the broader market would be needed for Bitcoin to break back through to $33,500 levels.
Barring an extended crypto rally, the first major resistance level and resistance at $34,000 would likely cap any upside.
In the event of an extended breakout, Bitcoin could test resistance at $36,000 before any pullback. The second major resistance level sits at $36,117.
Failure to move through the $32,506 pivot would bring the first major support level at $30,358 into play.
Barring another extended sell-off, Bitcoin should steer clear of sub-$29,000 levels and the second major support level at $28,895.
At the time of writing, Bitcoin was down by 0.58% to $31,637.0. A mixed start to the week saw Bitcoin rise to an early Monday high $31,921.0 before falling to a low $31,514.0.
Bitcoin left the major support and resistance levels untested at the start of the week.
Ethereum
Ethereum slid by 11.67% in the week ending 18th July. Following a 7.85% decline from the previous week, Ethereum ended the week at $1,891.46.
A mixed start to the week saw Ethereum rise to a Monday intraweek high $2,169.00 before hitting reverse.
Falling well short of the first major resistance level at $2,351, Ethereum slid to a Saturday intraweek low $1,850.00.
Ethereum fell through the first major support level at $1,990.
Steering clear of the second major support level at $1,839, Ethereum revisited $1,990 levels before sliding back to sub-$1,900 levels.
The first major support level at $1,990 pinned Ethereum back at the end of the week.
5-days in the red that included a 5.14% slide on Monday, a 4.43% fall on Tuesday, and a 3.81% loss on Thursday delivered the downside for the week.
For the week ahead
Ethereum would need to move through the pivot at $1,970 to bring the first major resistance level at $2,090 into play.
Support from the broader market would be needed, however, for Ethereum to break back through to $2,000 levels.
Barring an extended crypto rally, the first major resistance level and resistance at $2,100 would likely cap any upside.
In the event of an extended breakout, Ethereum could test the second major resistance level at $2,289. Ethereum would need plenty of support, however, to breakout from last week’s high $2,169.00.
Failure to move through the pivot at $1,970 would bring the first major support level at $1,771 into play.
Barring another extended sell-off in the week, Ethereum should steer clear of the second major support at $1,651. The 62% FIB of $1,725 should limit the downside.
At the time of writing, Ethereum was down by 0.60% to $1,880.06. A mixed start to the week saw Ethereum rise to an early Monday high $1,907.70 before falling to a low $1,866.34.
Ethereum left the major support and resistance levels untested at the start of the week.
This article was originally posted on FX Empire