Bitcoin<\/p>\n
Bitcoin rose by 5.57% in the week ending 9th August. Following on from an 11.11% rally from the previous week, Bitcoin ended the week at $11,675.3.<\/p>\n
It was a bullish week for Bitcoin and the broader market. Bitcoin slipped to a Monday intraweek low $10,943.0 before making a move.<\/p>\n
Steering clear of the first major support level at $9,967, Bitcoin rallied to a Friday intraweek high $11,900.<\/p>\n
Falling short of the weeks first major resistance level at $12,119, Bitcoin fell back to $11,500 levels before finding support.<\/p>\n
5 days in the green that included a 4.93% rally on Wednesday delivered the upside for the week.<\/p>\n
Bitcoin would need to avoid a fall through $11,506 pivot to support another run the first major resistance level at $12,069 into play.<\/p>\n
Support from the broader market would be needed for Bitcoin to break out from the current week high $12,060.<\/p>\n
Barring another extended crypto rally, the first major resistance level would likely cap any upside.<\/p>\n
In the event of a breakout, Bitcoin could break out from the second major resistance level at $12,463 to target $13,000 levels.<\/p>\n
A fall through the $11,506 pivot would bring the first major support level at $11,112 into play.<\/p>\n
Barring an extended sell-off, Bitcoin should avoid sub-$11,000 levels and the second major support level at $10,549.<\/p>\n
At the time of writing, Bitcoin was up by 2.80% to $12,002.0. A bullish start to the week saw Bitcoin rise from an early morning low $11,675.3 to a high $12,060 on Monday.<\/p>\n
Bitcoin tested the first major resistance level at $12,069 at the start of the week.<\/p>\n
Ripples XRP slipped by 0.04% in the week ending 9th August. Following the previous weeks 33.50% breakout, Ripples XRP ended the week at $0.28781.<\/p>\n
A bullish start to the week saw Ripples XRP rally to a Monday intraweek high $0.31950 before hitting reverse.<\/p>\n
Falling short of the first major resistance level at $0.3395, Ripples XRP slid to a Friday intraweek low $0.27742.<\/p>\n
Steering well clear of the first major support level at $0.22249, Ripples XRP revisited $0.29 levels before slipping back to sub-$0.29 levels and into the red.<\/p>\n
3-days in the red reversed Mondays 7.68% rally to leave Ripples XRP in the red for the week.<\/p>\n
Ripples XRP would need to avoid a fall through the $0.29491 pivot to support a run at the first major resistance level at $0.31240.<\/p>\n
Support from the broader market would be needed, however, for Ripples XRP to break back through to $0.31 levels.<\/p>\n
Barring an extended crypto rally, the first major resistance level would likely cap any upside.<\/p>\n
In the event of another breakout, 23.6% FIB of $0.3134 and the second major resistance level at $0.33699 could come into play.<\/p>\n
A fall through the $0.29491 pivot would bring the first major support level at $0.27032 into play.<\/p>\n
Barring an extended broader-market sell-off, however, Ripples XRP should steer well clear of the second major support level at $0.25283.<\/p>\n
At the time of writing, Ripples XRP was up by 2.62% to $0.29536. A bullish start to the week saw Ripples XRP rise from an early Monday low $0.28821 to a high $0.29550.<\/p>\n
Ripples XRP left the major support and resistance levels untested at the start of the week.<\/p>\n
This article was originally posted on FX Empire<\/p>\n
<\/p>\n
See the original post here:<\/p>\n
Bitcoin and Ripples XRP Weekly Technical Analysis August 10th, 2020 - Yahoo Finance<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Bitcoin Bitcoin rose by 5.57% in the week ending 9th August. Following on from an 11.11% rally from the previous week, Bitcoin ended the week at $11,675.3. It was a bullish week for Bitcoin and the broader market Continue reading