Bitcoin (BTC) and Ripple (XRP) - Weekly Technical Analysis

Bitcoin (BTC) and Ripple (XRP) - Weekly Technical Analysis Bitcoin (BTC) vs Ripple (XRP) - Weekly Technical Analysis   Bitcoin Bitcoin rose 6.67 percent in the week ended December 6. It reversed a 1.05 percent loss over the previous week. It closed the week at $ 19,410.00. Starting the week with a surge, Bitcoin reached its weekday high from $ 18,196.0 on Monday, before reversing to a new high of $ 19,956.00 on Tuesday. Bitcoin crossed the first major resistance level at $ 19,268 and the second major resistance at $ 19,884. The retreat on Tuesday saw Bitcoin's resistance drop to $ 18,279.0 before finding support. In the middle of the week, Bitcoin pulled back its first major resistance level to $ 19,268 in order to regain the $ 19,600 levels before retracting. The dollar, which showed an 8.25 percent recovery and an upward trend on Monday, and the uptrend of the weekend seem to have positively affected the week. For the next week; Bitcoin needs to avoid a drop of $ 19,187 to support the first major resistance level at $ 20,179. For Bitcoin to hit last week's high of $ 19,956, it needs support from a wider market. Apart from a large crypto bullish rush, the first major resistance level will likely limit the upside. In the event of another breakout, Bitcoin could test the resistance at $ 21,000 before any pullback. The second major resistance level is located at $ 20,947. Failure to avoid a drop on the $ 19,187 axis could put the first major support level into play at $ 18,419. Except for an extended selling trend, Bitcoin should stay away from support levels below $ 17,500. The second major support level is $ 17,427. At the time of writing this article, Bitcoin started the week with a mixed start, dropping 0.57 percent to $ 19,300. It was seen that Btc rose to a high of $ 19,460 on Monday morning before dropping to $ 18,300.0. Bitcoin did not test the main support and resistance levels earlier in the week. Ripple Ripple rose 2.69 percent in the week ending December 6. XRP closed the week at $ 0.62223 after breaking 35.79 percent last week. Ripple started the week with a surge and rose to a Monday high of $ 0.68898 before reversing. Ripple broke the 23.6 percent FIB (retracement level) of $ 0.6274 before reversing, trailing the initial major resistance level at $ 0.7843. Ripple fell as low as $ 0.5430, Friday's low, over 23.6 percent FIB. Moving away from the 38.2 percent FIB and major support levels at $ 0.5285, Ripple completed the week at $ 0.62. The dollar, which showed a 9.65 percent recovery and uptrend on Monday, and the uptrend for the weekend gained a fifth consecutive week. The 7.98 percent drop on Tuesday and the 12.23 percent drop on Friday limited the climb. For the next week; XRP will need to come back from the $ 0.6181 center level to support a run at the first major resistance level of $ 0.6931. However, Ripple will need support from the wider market to move from last week's high of $ 0.6274 to $ 0.68898 from 23.6 percent FIB. Apart from a large crypto bullish rush, the first major resistance level will likely limit the upside. In the event of another breakout, Ripple could test the second major resistance level at $ 0.7641. Failure to return to the $ 0.6181 axis will bring the first major support level into the game at $ 0.5472. Ripple should stay away from levels below $ 0.50, except for an extended crypto market sale. The $ 0.5285 38.2 percent FIB should limit the likelihood of any losses during the week. At the time of writing this article, Ripple started the week with a mixed start, dropping 1.93 percent to $ 0.61025. It was seen that XRP rose to a high of $ 0.62469 on Monday morning before dropping to $ 0.60813. Ripple did not test the main support and resistance levels early Monday. Source: https://finance.yahoo.com/ You may also be interested in: Elon Musk to Tesla Employees: We have to control costs!