Following last week’s reversal, failure to move through the week’s pivot levels would leave Bitcoin and Ethereum in the deep red once more.

Bitcoin

Bitcoin, BTC to USD, fell by 10.36% in the week ending 21st November. Reversing a 3.47% gain from the week prior, Bitcoin ended the week at $58,691.0.

A mixed start to the week saw Bitcoin rise to Monday intraweek high $66,343.9 before hitting reverse.

Falling well short of the first major resistance level at $68,870, Bitcoin slid to a Friday intraweek low $55,653.0.

The reversal saw Bitcoin fall through the first major support level at $62,167 and the second major support level at $58,859.

Finding support going into the weekend, however, Bitcoin briefly broke back through the second major support level before ending the week at sub-$58,700 levels.

4-days in the red that included a 5.50% sell-off on Tuesday and a 5.62% slide on Thursday delivered the downside.

At the time of writing, Bitcoin was down by 0.95% to $58,133.0. A mixed start to the week saw Bitcoin rise to an early Monday high $58,829.0 before falling to a low $58,083.0.

Bitcoin left the major support and resistance levels untested early on.

For the week ahead

Bitcoin would need to move through the $60,229 pivot to bring the first major resistance level at $64,806 into play.

Support from the broader market would be needed for Bitcoin to break back through to $64,000 levels.

Barring an extended crypto rally, the first major resistance level and last week’s high $66,343.9 would likely cap any upside.

In the event of a breakout, Bitcoin could test second major resistance level at $70,920 before any pullback. Plenty of support would be needed, however, for Bitcoin to break out from its ATH $68,958.0.

Failure to move through the $60,229 pivot would bring the first major support level at $54,115 and the 23.6% FIB of $53,628 into play.

Barring another extended sell-off, Bitcoin should steer clear of the sub-$50,000 levels. The second major support level sits at $49,538.

Ethereum

Ethereum fell by 7.86% in the week ending 21st November. Following a 0.21% gain from the previous week, Ethereum ended the week at $4,262.99.

A mixed start to the week saw Ethereum rise to a Monday intraweek high $4,770.00 before hitting reverse.

Falling short of the first major resistance level at $4,843, Ethereum slid to a Thursday intraweek low $3,960.00.

Ethereum fell through the first major support level at $4,435 and the second major support level at $4,244.

Steering clear of the third major support level at $3,836, however, Ethereum revisited $4,400 levels before easing back.

While failing to move back through the first major support level, Ethereum avoided a fall back through the second major support level.

4-days in the red that included a 7.79% sell-off on Tuesday and a 6.80% slide on Thursday delivered the downside in the week. A 7.54% rally on Friday limited the damage, however.

At the time of writing, Ethereum was down by 0.83% to $4,227.73. A mixed start to the week saw Ethereum rise to an early Monday high $4,270.34 before falling to a low $4,212.45.

Ethereum left the major support and resistance levels untested early on.

For the week ahead

Ethereum would need to move through the $4,331 pivot level to support a run at the first major resistance level at $4,702.

Support from the broader market would be needed, however, for Ethereum to break out from $4,500 levels.

Barring an extended crypto rally, the first major resistance level and last week’s high $4,770.00 would likely cap any upside.

In the event of another extended breakout, Ethereum could test the second major resistance level at $5,141. Ethereum would need plenty of support, however, to breakout from its ATH $4,867.81.

Failure to move through the $4,331 pivot would bring the first major support level at $3,892 into play.

Barring an extended sell-off in the week, Ethereum should steer clear of sub-$3,700 levels and the second major support level at $3,521. The 23.6% FIB of $3,738 should limit the downside.