Bitcoin
Bitcoin, BTC to USD, rallied by 9.00% in the week ending 13th June. Following a 0.48% gain from the previous week, Bitcoin ended the week at $38,998.9.
A bearish start to the week saw Bitcoin fall to a Tuesday intraweek low $31,075.0 before making a move.
The reversal saw Bitcoin fall through the first major support level at $33,466 and the second major support level at $31,152.
Finding mid-week support, however, Bitcoin rallied to a Sunday intraweek high $39,374.0.
Bitcoin broke through the first major resistance level at $38,788 to end the week at $38,900 levels.
3 days in the green that included an 11.87% rally on Wednesday and a 9.66% gain on Sunday delivered the upside for the week. A 6.17% slide on Monday and a 4.75% decline on Saturday limited the upside, however.
For the week ahead
Bitcoin would need to avoid a fall through the $36,483 pivot to support a run the 38.2% FIB of $41,592 and the first major resistance level at $41,890.
Support from the broader market would be needed for Bitcoin to break back through to $41,000 levels.
Barring an extended crypto rally, the first major resistance level and resistance at $42,000 would likely cap any upside.
In the event of an extended breakout, Bitcoin could test resistance at $45,000 before any pullback. The second major resistance level sits at $44,782.
A fall through the $36,483 pivot would bring the first major support level at $33,591 into play.
Barring another extended sell-off, Bitcoin should steer clear of sub-$30,000 levels. The second major support level sits at $28,184.
At the time of writing, Bitcoin was up by 0.29% to $39,111.0. A mixed start to the week saw Bitcoin fall to an early Monday low $38,782.0 before rising to a high $39,777.0.
Bitcoin left the major support and resistance levels untested at the start of the week.
Ethereum
Ethereum slid by 7.40% in the week ending 13th June. Partially reversing a 13.54% rally from the previous week, Ethereum ended the week at $2,510.23.
A mixed start to the week saw Ethereum rise to a Monday intraweek high $2,849.15 before hitting reverse.
While falling short of the first major resistance level at $2,976, Ethereum broke through the 38.2% FIB of $2,740.
The reversal saw Ethereum fall to a Saturday intraweek low $2,259.91.
Ethereum fell back through the 38.2% FIB and through the first major support level at $2,361.
Finding late support, however, Ethereum broke back through the first major support level to end the week at $2,500 levels.
4-days in the red that included a 4.37% fall on Monday and a 5.35% slide on Thursday delivered the downside for the week.
For the week ahead
Ethereum would need to move through the pivot at $2,540 to bring the 38.2% FIB of $2,740 and the first major resistance level at $2,820 into play.
Support from the broader market would be needed, however, for Ethereum to break back through to $2,800 levels.
Barring an extended crypto rally, the first major resistance level and last week’s high $2,849.15 would likely cap any upside.
In the event of an extended breakout, Ethereum could test resistance at the 23.6% FIB of $3,369 before any pullback. The second major resistance level sits at $3,129.
Failure to move through the pivot at $2,540 would bring the first major support level at $2,230 into play.
Barring another extended sell-off in the week, Ethereum should steer clear of sub-$1,900 levels. The second major support at $1,951 should limit the downside.
At the time of writing, Ethereum was down by 0.36% to $2,501.17. A mixed start to the week saw Ethereum fall to an early Monday low $2,486.72 before rising to a high $2,525.00.
Ethereum left the major support and resistance levels untested at the start of the week.
This article was originally posted on FX Empire