Bitcoin<\/p>\n
Bitcoin rose by 0.57% in the week ending 30th August. Following a 2.19% slide from the previous week, Bitcoin ended the week at $11,730.0.<\/p>\n
It was a bullish start to the week. Bitcoin rose to a Monday intraweek high $11,847.0 before hitting reverse.<\/p>\n
Falling short of the first major resistance level at $12,305 Bitcoin slid to a Tuesday intraweek low $11,137.0.<\/p>\n
Bitcoin fell through the first major support level at $11,205, Bitcoin a moving back through to $11,700 levels on Sunday.<\/p>\n
4 days in the green that included a 2.07% gain on Sunday delivered the upside for the week.<\/p>\n
Bitcoin would need to avoid a fall through $11,571 pivot to support a run the first major resistance level at $12,006.<\/p>\n
Support from the broader market would be needed for Bitcoin to break out from last weeks high $11,847.<\/p>\n
Barring an extended crypto rally, the first major resistance level and last weeks high would likely cap any upside.<\/p>\n
In the event of a breakout, Bitcoin could test the second major resistance level at $12,281. Expect plenty of resistance at $12,000, however.<\/p>\n
Failure to avoid a fall through the $11,571 pivot would bring the first major support level at $11,296 into play.<\/p>\n
Barring an extended sell-off, Bitcoin should avoid sub-$11,000 and the second major support level at $10,861.<\/p>\n
In the event of a sell-off, expect support at $10,500 to be tested in the week.<\/p>\n
At the time of writing, Bitcoin was down by 0.02% to $11,727.2. A mixed start to the week saw Bitcoin fall to an early Monday morning low $11,713.0 before rising to a high $11,744.0.<\/p>\n
Bitcoin left the major support and resistance levels untested at the start of the week.<\/p>\n
Ethereum rose by 9.73% in the week ending 30th August. Reversing a 9.87% slide from the previous week, Ethereum ended the week at $428.94.<\/p>\n
A bullish start to the week saw Ethereum rise to a Monday high $411.97 hitting reverse.<\/p>\n
Falling well short of the first major resistance level at $432.00, Ethereum slid to Tuesday intraweek low $369.36.<\/p>\n
Ethereum steered clear of the 23.6% FIB of $367 and the first major support level at $364 in the pullback.<\/p>\n
Finding support in the latter part of the week, Ethereum struck a Sunday intraweek high $429.90 before easing back. In spite of the rally, Ethereum came up short of the first major resistance level at $432.<\/p>\n
5 days in the green that included a 4.31% gain on Monday and 7.62% rally on Sunday delivered the upside.<\/p>\n
A 5.99% slide on Tuesday limited the upside for the week, however.<\/p>\n
Ethereum would need to avoid a fall through the $409 pivot to support a run at the first major resistance level at $449.<\/p>\n
Support from the broader market would be needed, however, for Ethereum to break out from an early Monday high $430.55.<\/p>\n
Barring an extended crypto rally, the first major resistance level would likely cap any upside.<\/p>\n
In the event of another breakout, Ethereum could test the second major resistance level at $470.<\/p>\n
Failure to avoid a fall through the $409 pivot would bring the first major support level at $389 into play.<\/p>\n
Barring an extended broader-market sell-off, however, Ethereum should steer well clear of the 38.2% FIB of $367. The second major support level sits at $349.<\/p>\n
At the time of writing, Ethereum was down by 0.42% to $427.14. A mixed start to the day saw Ethereum rise to an early Monday morning high $430.55 before falling to a low $424.11.<\/p>\n
Story continues<\/p>\n
Ethereum left the major support and resistance levels untested at the start of the week.<\/p>\n
This article was originally posted on FX Empire<\/p>\n
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