With a brief shortfall to the first major resistance level at $ 37,175, Bitcoin declined to a Wednesday low of within $ 28,283.0.
While falling through the 23.6% FIB of $ 33,008, Bitcoin avoids a fall through the first major support level at $ 28,227.
Support on Thursday, Bitcoin rose to a Friday within $ 38,710.7.
Bitcoin broke the 23.6% FIB of $ 33,008 and the first major resistance level at $ 37,175 before falling back to below $ 33,000 levels.
Over the weekend, however, it gained support, but Bitcoin broke through the 23.6% FIB to end the week at $ 33,100 levels.
Four days in the green that included a 9.7% rally on Thursday yielded the benefit for the week.
For the week ahead
Bitcoin will have to move through the $ 33,711 pivot to support the first major resistance level at $ 38,138.
Broader market support is needed for Bitcoin to break back to $ 38,000 levels.
If an extensive crypto rally is not allowed, the first major resistance level and the high of $ 38,710.7 last week will likely be upside down.
In the event of an extended outbreak, Bitcoin could test resistance at $ 41,969 before any setback. The second major resistance level is $ 43,138.
Failure to move through the $ 33,711 pivot will put the 23.6% FIB and the first major support level at $ 28,710 into play.
In the event of a sell-out, Bitcoin should remove the 38.2% FIB of $ 27,465. The second major support level is $ 24,283.
At the time of writing, Bitcoin was up 0.98% to $ 33,462.6. In a mixed start to the week, Bitcoin fell to a low Monday morning low of $ 32,333.0 before rising to $ 33,570.0.
While Bitcoin left the highest levels of support and resistance untested at the beginning of the week, Bitcoin fell briefly through the FIB of 23.6%.