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Weekly Technical Analysis for Bitcoin and Ethereum — November 29th, 2021
Bitcoin
Bitcoin (BTC) declined 2.29 percent against the US dollar in the week ending November 28th. Bitcoin finished the week at $57,356, down 10.36 percent from the previous week.
A volatile start to the week saw Bitcoin soar to an intraweek high of $59,456 on Monday before reversing.
Bitcoin fell to an intraweek low of $53,555 on Friday, falling far short of the first major resistance mark at $64,806.
Bitcoin has breached the first major support level of $54,135. Finding weekend support, Bitcoin broke back through to $57,000 levels, reducing the week’s deficit.
The negative was delivered by three days in the red, including an 8.87 percent sell-off on Friday. However, four days in the green, including a 4.68 percent gain on Sunday, reduced the damage.
Bitcoin was up 0.55 percent to $57,672 at the time of writing. Bitcoin had a rocky start to the week, falling to an early Monday low of $57,201 before recovering to an early Monday high of $58,294.
Early on, Bitcoin did not test the main support and resistance levels.
