U.S. Markets open in 4 hrs 6 mins
  • S&P Futures

    4,315.75
    -2.00 (-0.05%)
     
  • Dow Futures

    33,977.00
    -66.00 (-0.19%)
     
  • Nasdaq Futures

    14,045.75
    +59.00 (+0.42%)
     
  • Russell 2000 Futures

    1,912.50
    -15.80 (-0.82%)
     
  • Crude Oil

    87.11
    +0.50 (+0.58%)
     
  • Gold

    1,791.90
    -3.10 (-0.17%)
     
  • Silver

    22.55
    -0.13 (-0.58%)
     
  • EUR/USD

    1.1138
    -0.0009 (-0.0780%)
     
  • 10-Yr Bond

    1.8070
    0.0000 (0.00%)
     
  • Vix

    30.83
    -1.13 (-3.54%)
     
  • GBP/USD

    1.3378
    -0.0003 (-0.0254%)
     
  • USD/JPY

    115.6170
    +0.3150 (+0.2732%)
     
  • BTC-USD

    36,587.67
    -12.40 (-0.03%)
     
  • CMC Crypto 200

    828.74
    +9.24 (+1.13%)
     
  • FTSE 100

    7,470.87
    -83.44 (-1.10%)
     
  • Nikkei 225

    26,717.34
    +547.04 (+2.09%)
     

Bitcoin and Ethereum – Weekly Technical Analysis – July 19th, 2021

  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
·4 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • Oops!
    Something went wrong.
    Please try again later.
  • ETH-USD
  • BTC-KRW
  • ETH-AUD
  • ETH-CNY
  • ETH-BTC
  • BTC-JPY
  • BTC-CAD
  • BTC-INR
  • ETH-EUR
  • ETH-INR
  • BTC-RUB
  • BTC-USD
  • BTC-CNY
  • BTC-ETH
  • ETH-KRW
  • BTC-AUD
  • BTC-GBP
  • ETH-JPY
  • ETH-GBP
  • BTC-EUR
  • ETH-CAD
  • ETH-RUB

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

More From FXEMPIRE: