FXEMPIRE
All
Ad
Advertisement
Advertisement
Bob Mason
Add to Bookmarks
crypto currency mining concept

Bitcoin

Bitcoin, BTC to USD, slid by 21.04% in the week ending 28th February. Reversing an 18.06% rally from the previous week, Bitcoin ended the week at $45,300.0.

Advertisement
Know where Bitcoin is headed? Take advantage now with 

Trading Derivatives carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Derivatives may not be suitable for all investors, so please ensure that you fully understand the risks involved, and seek independent advice if necessary. A Product Disclosure Statement (PDS) can be obtained either from this website or on request from our offices and should be considered before entering into a transaction with us. Raw Spread accounts offer spreads from 0.0 pips with a commission charge of USD $3.50 per 100k traded. Standard account offer spreads from 1 pips with no additional commission charges. Spreads on CFD indices start at 0.4 points. The information on this site is not directed at residents in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

A mixed start to the week saw Bitcoin rise to a Monday intraweek high $57,449.0 before hitting reverse.

Falling well short of the first major resistance level at $61,888, Bitcoin slumped to a Sunday intraweek low $43,171.0.

The sell-off saw Bitcoin fall through the first major support level at $49,297 and the 23.6% FIB of $45,501.

The 23.6% FIB of $45,501 pinned Bitcoin back at the end of the week.

6 days in the red that included a 9.62% slide on Tuesday delivered the downside for the week.

For the week ahead

Bitcoin would need to move through the $48,640 pivot to support a run the first major resistance level at $54,109.

Support from the broader market would be needed for Bitcoin to break back through to $50,000 levels.

Barring an extended crypto rally, the first major resistance level would likely cap any upside.

In the event of an extended breakout, Bitcoin could test resistance at $60,000 before any pullback. The second major resistance level sits at $62,918.

Failure to move through the $48,640 pivot would bring the 23.6% FIB of $45,501 and the first major support level at $39,831 into play.

Barring an extended sell-off, Bitcoin should steer clear of the 38.2% FIB of $37,571. The second major support level sits at $34,362.

At the time of writing, Bitcoin was up by 3.14% to $46,723.0. A mixed start to the week saw Bitcoin fall to an early morning low $45,100.0 before rallying to a high $46,927.7.

While Bitcoin left the major support and resistance levels untested, Bitcoin broke back through the 23.6% FIB of $45,501.

Advertisement

Cardano’s ADA

Cardano’s ADA rose by 19.61% in the week ending 28th February. Following on from a 19.72% rally from the previous week, Cardano’s ADA ended the week at $1.3161.

A bearish start to the week saw Cardano’s ADA fell to a Tuesday intraweek low $0.8072 before making a move.

While steering clear of the first major support level at $0.7167, Cardano’s ADA briefly fell through the 23.6% FIB of $0.9496.

Bullish through to Saturday, however, Cardano’s ADA rallied to a Saturday intraweek high and a new swing hi $1.5467.

Cardano’s ADA broke through the first major resistance level at $1.2689 and the second major resistance level at $1.5278.

The rally also saw Cardano’s ADA break back through the 23.6% FIB of $0.9496.

A choppy end to the week, however, saw Cardano’s ADA fall back through the resistance levels before ending the week at $1.31 levels.

The move back through to $1.31 levels saw Cardano’s ADA also break back through the first major resistance level at $1.2689.

5-days in the green included a 9.24% gain on Wednesday and a 15.62% rally on Friday contributed to the upside in the week.

For the week ahead

Cardano’s ADA would need to avoid a fall through the pivot level at $1.2233 to support a run at the first major resistance level at $1.6395.

Support from the broader market would be needed, however, for Cardano’s ADA to break out from last week’s new swing hi $1.5467.

Barring another extended crypto rally, the first major resistance level and resistance at $1.70 would likely cap any upside.

In the event of another extended breakout, Cardano’s ADA could test resistance at $1.90 before any pullback. The second major resistance level sits at $1.9628.

Failure to avoid a fall through the pivot level at $1.2233 would bring the 23.6% FIB of $1.1881 and the 38.2% FIB of $0.9663 into play.

Barring an extended sell-off in the week, Cardano’s ADA should avoid the first major support level at $0.9000. The second major support level sits at $0.4838.

At the time of writing, Cardano’s ADA was down by 1.33% to $1.2985. A mixed start to the week saw Cardano’s ADA rise to an early Monday morning high $1.3678 before falling to a low $1.2277.

Cardano’s ADA left the major support and resistance levels untested at the start of the week.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker