It was a mixed but bearish start to the week. Bitcoin rose to a Monday intraweek high $11,000.0 before hitting reverse.
Coming up short of the first major resistance level at $11,327, Bitcoin slid to a Wednesday intraweek low $10,152.0.
Bitcoin fell through the first major support level at $10,401 before breaking back through to $10,800 levels.
Following a 4.78% rally on Thursday to $10,800 levels, however, Bitcoin fell back to sub-$10,600 levels before steadying.
A move back through to $10,800 levels late on Sunday limited the downside for the week. Resistance at $10,800 pinned Bitcoin back late in the week.
3 days in the red that included a 4.57% slide on Monday delivered the downside for the week. A 4.78% rally on Thursday offset some of the losses from earlier in the week, however.
Bitcoin would need to avoid a fall through the $10,652 pivot to support a run the first major resistance level at $11,151.
Support from the broader market would be needed for Bitcoin to break out from last week’s high $11,000.
Barring an extended crypto rally, the first major resistance level and resistance at $11,200 would likely pin Bitcoin back.
In the event of a breakout, Bitcoin could test the second major resistance level at $11,500 before any pullback.
Failure to avoid a fall through the $10,652 pivot would bring the first major support level at $10,303 into play.
Barring an extended sell-off, Bitcoin should steer clear of sub-$10,000 levels. The second major support level sits at $9,804.
At the time of writing, Bitcoin was up by 1.11% to $10,922.9. A bullish start to the week saw Bitcoin rise from an early Monday low $11,803.0 to a high $10,986.0.
Bitcoin left the major support and resistance levels untested at the start of the week.