Bitcoin and Ethereum – Weekly Technical Analysis – December 13th, 2021

This is the weekly tech analysis for Bitcoin (BTC) and Ethereum (ETH). We will be looking at last week’s movements and the support, resistance, pivot levels for the week ahead and the Fibonacci’s. Additionally, we will look at the EMAs and the key levels for the week.

Bitcoin (BTC)

Bitcoin, BTC to USD, rose by 1.31% in the week ending 12^th December. Partially reversing a 13.70% slide from the week prior, Bitcoin ended the week at $50,123.

A mixed start to the week saw Bitcoin rise to Tuesday intraweek high $51,970 before hitting reverse. Falling well short of the first major resistance level at $58,554, Bitcoin tumbled to a Saturday intraweek low $46,872.

Steering clear of the first major support level at $41,014, however, Bitcoin found weekend support to wrap up the week at $50,100 levels.

4-days in the green that included a 4.70% rally on Saturday delivered the upside.

At the time of writing, Bitcoin was down by 1.02% to $48,968. A mixed start to the week saw Bitcoin rise to an early Monday morning high $50,234 before falling to a low $48,488.

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

For the week ahead

Bitcoin would need to move back through the $49,655 pivot to bring the first major resistance level at $52,431 into play. Support from the broader market would be needed for Bitcoin to break out from last week’s high $51,970. Barring an extended crypto rally, the first major resistance level and the 23.6% FIB of $53,628 would likely cap any upside.

In the event of a breakout, Bitcoin could test resistance at $55,000 before any pullback. The second major resistance level sits at $54,753.

Failure to back move through the $49,655 pivot would bring the first major support level at $47,340 into play. Barring another extended sell-off, Bitcoin should avoid the second major support level at $44,557 and the 38.2% FIB of $44,144.

Ethereum (ETH)

Ethereum fell by 1.67% in the week ending 12^th December. Following a 2.21% decline from the previous week, Ethereum ended the week at $4,203.

After a choppy start to the week, Ethereum rose to a Thursday intraweek high $4,491 before hitting reverse. Falling short of the first major resistance level at $4,800, Ethereum slid to a Saturday intraweek low $3,835.

Steering clear of the first major support level at $3,590, however, Ethereum broke back through to $4,100 levels to reduce the deficit.

3-days in the red that included a 7.53% sell-off on Thursday delivered the downside in the week.

At the time of writing, Ethereum was down by 3.76% to $3,978. A mixed start to the week saw Ethereum rise to an early Monday morning high $4,146 before falling to a low $3,954.

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

For the week ahead

Ethereum would need to move through the $4,153 pivot level to bring the first major resistance level at $4,471 into play.

Support from the broader market would be needed, however, for Ethereum to break back through to $4,400 levels.

Barring an extended crypto rally, the first major resistance level and last week’s high $4,491 would likely cap any upside.

In the event of another extended breakout, Ethereum could test resistance at $5,000 before any pullback. The second major resistance level sits at $4,809. Ethereum would need plenty of support, however, to breakout from its ATH $4,868.

Failure to move through the $4,153 pivot would bring the first major support level at $3,815 and the 23.6% FIB of $3,738 into play. Barring an extended sell-off, however, Ethereum should steer clear of the second major support level at $3,497.

Weekly Video Technical Analysis of Bitcoin (BTC) and Ethereum (ETH)