Falling short of the first major resistance level at $19,600, Bitcoin tumbled to a Thursday intraweek low $16,317.0.
The sell-off saw Bitcoin fall through the first major support level at $16,529 before a partial recovery to $18,100 levels.
4 days in the red that included an 8.09% slide on Thursday delivered the downside for the week.
For the week ahead
Bitcoin would need to avoid a fall through $18,003 pivot to support a run the first major resistance level at $19,690.
Support from the broader market would be needed for Bitcoin to break out from last week’s high $19,497.
Barring an extended crypto rally, the first major resistance level and resistance at $19,500 would likely cap any upside.
In the event of another breakout, Bitcoin could test resistance at $20,000 before any pullback. The second major resistance level sits at $21,183.
Failure to avoid a fall through the $18,003 pivot would bring the first major support level at $16,510 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 $14,823.
At the time of writing, Bitcoin was up by 1.54% to $18,477.0. A bullish start to the week saw Bitcoin rise from an early Monday morning low $18,196.0 to a high $18,550.0.
Bitcoin left the major support and resistance levels untested at the start of the week.