Bitcoin and Ethereum – Weekly Technical Analysis – May 17th, 2021

Bitcoin

Bitcoin, BTC to USD, slid by 20.06% in the week ending 16th May. Reversing a 2.96% gain from the previous week, Bitcoin ended the week at $46,597.0.

A mixed start to the week saw Bitcoin rise to a Monday high intraweek high $59,589.8 before hitting reverse.

Falling short of the first major resistance level at $60,831, Bitcoin slid to a Sunday intraweek low $44,021.0.

The extended sell-off saw Bitcoin fall through the first major support level at $54,341 and the second major support level…


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