Coming up short of the first major resistance level at $11,151, Bitcoin slid to a Friday intraweek low $10,391.0.

Steering clear of the first major support level at $10,303 Bitcoin revisited $10,700 levels before easing back.

5 days in the red that included a 1.49% loss on Thursday delivered the downside for the week. A 1.33% gain on Tuesday and 1.22% rise on Sunday offset some of the losses from earlier in the week, however.

For the week ahead

Bitcoin would need to avoid a fall back through $10,688 pivot to support a run the first major resistance level at $10,985.

Support from the broader market would be needed for Bitcoin to break back through to $10,900 levels.

Barring an extended crypto rally, the first major resistance level and resistance at $11,000 would likely pin Bitcoin back.

In the event of a breakout, Bitcoin could test the second major resistance level at $11,283 before any pullback.

Failure to avoid a fall back through the $10,688 pivot would bring the first major support level at $10,390 into play.

Barring an extended sell-off, Bitcoin should steer clear of sub-$10,300 support levels. The second major support level sits at $10,093.

At the time of writing, Bitcoin was up by 0.36% to $10,726.0. A bullish start to the week saw Bitcoin rise from an early Monday morning low $10,680.0 to a high $10,758.0.

Bitcoin left the major support and resistance levels untested at the start of the week.

(Excerpt) Read more Here | 2020-10-04 20:17:22
Image credit: source

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