BTC Eyes a Return to $19,500 to Target $20,000 and Deliver an ETH Boost

Bitcoin (BTC) increased 1.03% on Sunday. BTC lost 0.60% on Saturday but recovered to close the week down 0.91% at $19,267. Notably, BTC avoided a drop to below $19,000 by failing to surpass $20,000 for the eighth session in a row.

After a choppy morning, BTC dropped to an early low of $19,067. BTC climbed to a late high of $19,428 while eluding the First Major Support Level (S1) at $18,966. Both the First Major Resistance Level (R1) and the Second Major Resistance Level (R2) were breached by BTC at $19,202 and $19,332, respectively. BTC, however, was unable to reach $19,500 and fell down into R2, ending the week at $19,267.

On Sunday, Ethereum (ETH) gained 2.43%. ETH lost 1.62% on Saturday but gained 1.28% towards the end of the week to reach $1,306.

ETH saw a bullish start to the Sunday session, rising from a low of $1,275 in the early morning to a late high of $1,316. At $1,297, ETH overcame the First Major Resistance Level (R1). ETH slipped down to conclude the week at less than $1,310, falling short of the Second Major Resistance Level (R2) at $1,318, however.

Because there were no noteworthy events on Sunday, dip buyers returned in anticipation of a reasonably calm week on the US economic calendar.

Despite increasing odds of 75 basis point Fed rate increases in November and December, the upside still occurred. When the economy starts to falter, it is hoped that the Fed would ease up on the throttle.

An increase in market risk appetite was fueled by the UK Gilt market's return to order during this morning's session, providing support. The NASDAQ Mini was up 139.25 points before the start of the US trading day.