Bitcoin and the Majors See Volatility Spike to Test Investor Resilience

Bitcoin, Ethereum, Litecoin Digital cryptocurrencys on a notebook

Bitcoin rose by 2.79% on Wednesday. Partially reversing a 12.9% tumble from Tuesday, Bitcoin ended the day at $9,682.6.

A relatively bearish start to the day saw Bitcoin fall to a late morning intraday low $9,084.7 before finding support.

Steering well clear of the first major support level at $8,846.87, Bitcoin bounced back to a late afternoon intraday high $9,975.

In spite of the afternoon rally, Bitcoin came up short of the first major resistance level at $10,505.87. Of greater significance, however, was a move back through the 38.2% FIB of $9,734, before a final hour pullback.

Wednesday’s gain was just the 3rd in the last 8-days as the bears look to claw their way back.

In spite of the sell-off that kicked in on 10th July, the extended bullish trend remained intact. Bitcoin will need to steer clear of the 62% FIB of $7,245 and move back through to $10,000 levels to avoid a resumption of the extended bearish trend.

Elsewhere

Across the top 10 cryptos, it was a sea of green for the majors, with Litecoin leading the way ahead of this summer’s halving event.

Litecoin surged by 13.19% on the day, with Binance Coin and Tron’s TRX not far behind, rallying by 10.66% and 9.18% respectively.

Bitcoin Cash SV (7.83%), Ethereum (6.49%), Ripple’s XRP (5.33%) and EOS (4.82%) also saw solid gains on the day.

Bitcoin Cash ABC trailed the pack on the day, rising by just 1.97%

Bitcoin’s dominance held onto 65% levels in spite of Bitcoin’s modest gains on the day. The broad-based crypto rally led the total market cap from a Wednesday low $248.42bn to $270.53bn at the time of writing.

Trading volumes stood at $82.23bn at the time of writing, easing back from $94bn levels hit during the Wednesday session.

This Morning

At the time of writing, Bitcoin was up by 1.99% to $9,875.6. A bearish start to the day saw Bitcoin fall to an early morning low $9,560.3.

Steering well clear of the first major support level at $9,186.53, Bitcoin struck a morning high $10,000 before easing back.

Whilst coming up short of the first major resistance level at $10,076.83, Bitcoin broke through the 38.2% FIB of $9,734.

Elsewhere, Bitcoin Cash ABC and Bitcoin Cash SV were leading the way, with gains of 4.95% and 7.83% respectively.

Tron’s TRX (4.32%), Litecoin (3.52%) and Ethereum (+3.56%) were also on move early on.

Ripple’s XRP trailed the pack through the morning, rising by just 1.1% at the time of writing.

BTC/USD 18/07/19 Daily Chart

For the day ahead

Bitcoin would need to hold above the 38.2% FIB of $9,734 to bring $10,000 levels back into play.

Support from the broader market would be needed, however, to give Bitcoin a run at the first major resistance level at $10,076.83.

In the event of an extended crypto rally, Bitcoin could eye up the second major resistance level at $10,471.07 before any pullback.

Failure to hold above the 38.2% FIB of $9,734 could lead to a slide through to sub-$9,600 levels. A fall through to $9,570 levels would bring the first major support level at $9,186.53 into play.

Barring a crypto meltdown, however, the 38.2% FIB of $9,734 should limit the downside on the day.

Binance Coin Analysis – Support Levels in Play – 17/07/19

Bitcoin, Ethereum, Litecoin Digital cryptocurrencys on a notebook

Binance Coin Price Support

It’s been a particularly bearish start to the week for Binance Coin. A bearish Sunday saw Binance Coin slide from a current week high $32.34 to $27 levels before finding support.

Following a 9.33% slide on Sunday, Binance Coin managed to recover to $31 levels on Monday before hitting reverse.

A 12.68% slide on Tuesday, following a 0.17% rise on Monday, saw Binance Coin fall to a  $24 levels

Binance Coin managed to recover to $25 levels late in the day.

Falling well short of the week’s major resistance levels, Binance Coin fell through the first major support level at $26.76.

Of greater significance was a fall through the 38.2% FIB of $28.

Following 5 consecutive months in the green, it was a bearish June and it’s been a particularly bearish July.

A current week loss of 20.71% has led to a 21.56% loss for the current month.

The near-term bullish trend formed at 7th December’s swing lo $4.17 remained firmly intact, however.

Binance Coin is up by 295% year-to-date, with Binance Coin managing to steer well clear of the 62% FIB of $19.

For the bulls, steering clear of sub-$20 levels will be key to maintaining the upward momentum.

At the time of writing, Binance Coin was up by 2.01% to $25.51.

Choppy through this morning, Binance Coin fell to a current week low $24.15 before recovering to $25 levels.

BNB/USD 17/07/19 Weekly Chart

For the remainder of the week

Binance Coin would need to move back through the first major support level at $26.76 to signal a possible rebound.

For a full circle, however, Binance Coin would need to break through to $31.8 levels to support a move back into the green.

Binance Coin would need the support of the broader market, however, to break out from $27 levels.

In the event of a broad-based crypto rebound, last week’s high $36.95 and first major resistance level should limit any upside on the week.

Failure to move back through the first major support level could lead to heavier losses on the week.

A fall through a current week low $24.15 would bring the second major support level at $22.01 into play.

Barring another crypto meltdown ahead of the weekend, however, Binance Coin should steer clear of the 62% FIB of $19.

Looking at the Technical Indicators

Major Support Level: $26.76

Major Resistance Level: $36.61

23.6% FIB Retracement Level: $34

38.2% FIB Retracement Level: $28

62% FIB Retracement Level: $19

Altcoins Weekly Analysis – BNB, EOS and ETH – 14/07/19

Bitcoin, Ethereum, Litecoin Digital cryptocurrencys on a notebook

Binance Coin

Binance Coin fell by 2.99% in the week ending 13th July. Following on from an 8.14% tumble from the previous week, Binance Coin ended the week at $31.52.

A bullish start to the week saw Binance Coin rise to a Monday intraweek high $36.95 before hitting reverse.

The bullish start to the week saw Binance Coin break through the 23.6% FIB of $34 and first major resistance level at $35.67.

Following 2 consecutive days in the green, 3 consecutive days in the red saw Binance Coin fall to a Thursday intraweek low $27.10.

The reversal saw Binance Coin fall through the first major support level at $29.61 and 38.2% FIB of $28.

Binance managed to bounce back to $34 levels on Friday before a Saturday 1.59% fall back to $31 levels.

For the week ahead

A move back through to $31.8 levels would support a bullish first half of the week. Binance Coin would need to move through to $33 levels to bring the first major resistance level at $36.61 into play.

Binance Coin would need the support of the market, however, to break through the 23.6% FIB of $34.

Barring a broad-based crypto rally, last week’s high $36.95 and the first major resistance level would limit any upside.

Failure to move back through to $31.8 levels could see Binance Coin face heavier losses in the week ahead.

A fall through to sub-$30 levels would bring the 38.2% FIB of $28 into play before any recovery.

Barring a crypto meltdown, we would expect Binance Coin to steer clear of the first major support level at $26.76.

At the time of writing, Binance Coin was down by 1.76% to $30.97.

BNB/USD 14/07/19 Daily Chart

EOS

EOS tumbled by 18.06% in the week ending 13th July. Following on from an 8.73% fall from the previous week, EOS ended the week at $4.7355.

A bullish start to the week saw EOS rise to a Monday intraweek high $6.06 before hitting reverse.

In spite of 2 consecutive days in the green, EOS came up short of the first major resistance level at $6.2620.

A mid-week reversal saw EOS slide to a Thursday intraweek low $4.3196 before finding support. EOS fell through the first major support level at $5.4271 and second major support level at $5.0784.

In spite of a day in the green on Friday, EOS failed to recover to $5.00 levels by the end of the week.

For the week ahead

A move through to $5.00 levels would support a run at the week’s first major resistance level at $5.7571

EOS would need the support of the broader market, however, to break out from $5.00 levels on the week.

In the event of a broad-based crypto rally, EOS could break through last week’s high $6.06 to take a run at the 23.6% FIB of $6.62.

Barring a broad-based rally, last week’s high would likely cap any upside on the week.

Failure to move through to $5.00 levels would bring the first major support level at $4.0167 into play.

Barring a crypto meltdown EOS should steer clear of sub-$4.00 support levels on the week.

At the time of writing, EOS was up 1.37% to $4.6707.

EOS/USD 14/07/19 Daily Chart

Ethereum

Ethereum fell by 6.45% in the week ending 13th July. Following on from a 9.3% slide from the previous week, Ethereum ended the week at $269.04.

A bullish start to the week saw Ethereum rise to a Monday intraweek high $315 before hitting reverse.

Coming up short of the first major resistance level at $317.31, Ethereum tumbled to a Thursday intraweek low $261.57.

The sell-off saw Ethereum fall through the first major support level at $264.12 before recovering to $270 levels on Friday. A bearish end to the week left Ethereum at sub-$270 levels.

In spite of the reversal, Ethereum managed to hold above the 23.6% FIB of $257.

For the week ahead

A move through to $283 levels would support a return to $300 levels. Ethereum would need the support of the broader market, however, to take a run at the first major resistance level at $304.57.

Barring a broad-based crypto rally, Ethereum would likely come up short of $300 levels on the week.

In the event of a crypto rebound, Ethereum could take a run at last week’s high $318.6.

Failure to move through to $283 levels could see Ethereum give up more ground in the week. A fall through 23.6% FIB of $257 would bring the first major support level at $247.54 into play before any recovery.

Barring a crypto meltdown, Ethereum should steer clear of sub-$240 levels on the week.

At the time of writing, Ethereum was down by 1.09% to $266.11.

ETH/USD 14/07/19 Daily Chart

Bitcoin Joins the Majors in a Mass Sell-Off

Bitcoin 1

Bitcoin fell by 3.75% on Wednesday. Reversing a 2.09% gain from Tuesday, Bitcoin ended the day at $12,093.

A bullish start to the day saw Bitcoin rally to a late morning intraday high $13,174 before hitting reverse.

The moves through the morning saw Bitcoin break through the first major resistance level at $12,881.07.

Falling short of the second major resistance level at $13,204.13, Bitcoin slid to a late intraday low $11,529.0.

While falling through the first major support level at $12,168.47 and second major support level at $11,778.93, Bitcoin steered clear of the 23.6% FIB of $11,275.

Support late in the day led to recovery to $12,000 levels, with Bitcoin managing to move back through the second major support level.

Elsewhere

Across the top 10 cryptos, it was a sea of red for the majors.

Leading the way down were EOS and Litecoin, which tumbled by 10.56% and 9.35% respectively.

For the rest of the pack, Binance Coin fell by 3.84%, one of the more modest losses on the day.

Bitcoin Cash ABC (-6.74%), Bitcoin Cash SV (-7.64%), Ethereum (-6.27%), Ripple’s XRP (-8.46%) and Tron’s TRX (-6.18%) were less fortunate…

Bitcoin’s dominance slipped back from 65% levels to 64.8% at the time of writing.

For the Bitcoin bulls, the near-term bullish trend, formed at mid-December’s swing lo $3,215.2 remained firmly intact. Bitcoin continued to hold well above the 38.2% FIB of $9,734.0.

The broad-based crypto sell-off dragged the total crypto market cap from $357bn levels to a Wednesday low $324.04bn before finding support. At the time of writing, the total crypto market cap stood at $331.32bn.

This Morning

At the time of writing, Bitcoin was down by 1.18% to $11,950.0. A bearish start to the day saw Bitcoin fall from a morning high $12,093.2 to a low $11,916.

Bitcoin left the major support and resistance levels untested at the start of the day.

Elsewhere, the sea of red continued into the early hours of this morning.

Ethereum was down by just 0.33%, while the Binance Coin led the way down, falling by 1.01% at the time of writing.

BTC/USD 11/07/19 Daily Chart

For the day ahead

A move back through to $12,260 levels would support a shift in sentiment through the day. Bitcoin would need the support of the broader market, however, to break out from this morning’s high $12,093.2.

Barring a broad-based crypto rebound, Bitcoin would likely fall short of the first major resistance level at $13,001.67

In the event of a broad-based crypto rally, Bitcoin would likely visit $12,800 levels before any pullback.

Failure to move back through to $12,260 levels could see Bitcoin give up more of the current week’s gains.

A fall through to $11,500 levels would bring the first major support level at $11,356.67 into play before any recovery.

Barring another crypto meltdown, the 23.6% FIB of $11,275 should limit the downside on the day.

In the event of a meltdown, sub-$11,000 levels could be visited before any recovery…

Ethereum Analysis – Resistance Levels in Play – 10/07/19

Bitcoin, Ethereum, Litecoin Digital cryptocurrencys on a notebook

Ethereum Price Resistance

It’s been a bullish first half of the week for Ethereum. Reversing most of last week’s 9.3% slide, Ethereum was up by 7.07%, Sunday through Tuesday.

A particularly bullish start to the week saw Ethereum jump by 6.53% on Sunday to set the tone early on. Following on from Sunday’s rally, Ethereum gained 2.26% on Monday before hitting red on Tuesday.

The Tuesday loss came in spite of Ethereum rising to a current week high $318.6 in the early hours of the day.

A broad-based crypto sell-off weighed on the day, with Ethereum ending the day down by 1.7% at $307.92.

The moves through to Tuesday’s current week high saw Ethereum break through the first major resistance level at $317.31 before pulling back to sub-$310 levels.

While falling short of the 38.2% FIB of $367, Ethereum steered well clear of the 23.6% FIB of $257. Ethereum also steered clear of the first major support level at $264.12 at the start of the week.

The extended bearish trend, formed at May 2018’s swing hi $828.97 remained firmly intact, however. Ethereum continued to fall short of the 38.2% FIB Retracement Level of $367, following December’s swing lo $80.6.

For the bulls, a breakout from the 38.2% FIB of $367 would be needed to form a near-term bullish trend.

At the time of writing, Ethereum was up by 1.48% to $312.47.

ETH/USD 10/07/19 Daily Chart

For the remainder of the week

Ethereum would need to steer clear of sub-$310 levels through the middle of the week to support further gains.

A move through to $315 levels would bring the current week high $318.6 into play. Ethereum would need the support of the broader market, however, to break through the first major resistance level at $317.31.

In the event of a broad-based crypto rally, Ethereum could move through last week’s high $323.61 to approach $330 levels.

Barring a crypto rally going into the weekend, however, the first major resistance level and last week’s high $323.61 would likely cap any upside in the event of a bounce back.

We would expect Ethereum to fall well short of the second major resistance level at $347.06 in the week.

Failure to steer clear of sub-$310 levels would likely see Ethereum slide back to sub-$300 levels before any recovery.

In the event of a broad-based crypto reversal, a fall through to sub-$294 levels would bring $280 levels into play before any recovery.

Barring a crypto meltdown, however, Ethereum should steer well clear of the first major support level at $264.12.

Looking at the Technical Indicators

 

Major Support Level: $264.12

Major Resistance Level: $317.31

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Bitcoin Stands Out Once More on a Mixed Day for the Majors

Bitcoin, Ethereum, Litecoin Digital cryptocurrencys on a notebook

Bitcoin rallied by 7.1% on Monday. Following on from a 1.85% gain on Sunday and last week’s 6.34% gain, Bitcoin ended the day at $12,301.

A relatively range-bound start to the day saw Bitcoin fall to an early morning intraday low $11,310 before recovering to $11,500 levels.

Gaining momentum through the morning, Bitcoin rallied to a late morning high $12,040.

The morning rally saw Bitcoin break through the first major resistance level at $11,700 and second major resistance level at $11,915.

After holding above the first major resistance level through the afternoon, Bitcoin rallied to a late intraday high $12,383 before easing back.

While Bitcoin broke back through the second major resistance level at $11,915, Bitcoin fell short of the third major resistance level at $12,425.

Of significance on the day was Bitcoin’s hold above the 23.6% FIB of $11,275 for the first time since 29th June.

Elsewhere

Across the top 10 cryptos, it was a mixed bag for the majors.

Coming in a distant second behind Bitcoin on the day was Litecoin, which gained 2.69% with Ethereum not far behind with a 2.26% gain.

Binance Coin (+1.09%), Ripple’s XRP (+1.05%), Bitcoin Cash SV (+1.21%) and Bitcoin Cash ABC (+0.99%) saw more modest gains on the day.

While EOS held on with a 0.13% gain on the day, Tron’s TRX bucked the trend, sliding by 3.13%.

Bitcoin’s dominance moved back to 63% levels off the back of Monday’s break out, which also drove the total crypto market cap to $343bn levels.

For the Bitcoin bulls, the near-term bullish trend, formed at mid-December’s swing lo $3,215.2 remains firmly intact. Bitcoin continued to hold well above the 38.2% FIB of $9,734.0.

This Morning

At the time of writing, Bitcoin was down by 0.21% to $12,275. A late pullback from Monday continued into this morning. Bitcoin fell from a morning high $12,325 to a low $12,243.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, Litecoin joined Bitcoin in the red, down by 0.68%. EOS (-0.31%), Ethereum (-0.45%) and Bitcoin Cash SV (-0.48%) also struggled early on.

Leading the way at the start of the day was Bitcoin Cash ABC, which was up by 1.35%.

BTC/USD 09/07/19 Daily Chart

 

For the day ahead

A hold onto $12,200 levels through the morning would support a run at the first major resistance level at $12,686.

Bitcoin would need the support of the broader market, however, to break out from Monday’s high $12,383.

In the event of a crypto rally, Bitcoin could take a run at the second major resistance level at $13,071.

Barring a crypto rally, however, Monday’s high $12,383 would likely limit any upside on the day.

Failure to hold onto $12,200 levels could see Bitcoin fall deeper into the red. A fall through to sub-$12,000 levels would bring the first major support level at $11,613 into play before any recovery.

Barring a broad-based crypto sell-off, Bitcoin should steer well clear of the 23.6% FIB of $11,275 and sub-$11,000 levels.

Altcoins Weekly Analysis – BNB, EOS and ETH – 07/07/19

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Binance Coin

Binance Coin slid by 8.14% in the week ending 6th July. Following on from a 6.28% fall from the previous week, Binance Coin ended the week at $32.52.

A bearish start to the week saw Binance Coin slide by 9.94% on Sunday, 30th June. The reversal saw Binance Coin fall from an intraweek high $35.92, through the 23.6% FIB of $34, to $31 levels.

The reversal continued through to a Tuesday intraweek low $29.86 before Binance found support.

Binance managed to recover to $34 levels before pulling back through the 23.6% FIB to $32 levels by the end of the week.

For the week ahead

A hold onto $32 levels through the early part of the week would support a run at the first major resistance level at $35.67.

Binance Coin would need the support of the broader market, however, to break out from the 23.6% FIB of $34.

Barring a broad-based crypto rally, the first major resistance level and last week’s high $35.92 would likely limit any upside on the week.

In the event of a crypto rebound, the second major resistance level at $38.83 would come into play before any pullback. We would expect Binance Coin to come up short of $40 levels, however.

Failure to hold onto $32 levels could see Binance Coin lose further ground. A fall through to $30 levels would bring the first major support level at $29.61 into play before any recovery.

Barring a crypto meltdown, we would expect Binance Coin to steer clear of the second major support level at $26.71.

At the time of writing, Binance Coin was up by 0.1% to $32.56.

BNB/USD 07/07/19 Weekly Chart

EOS

EOS fell by 8.73% in the week ending 6th July. Following on from a 15.65% tumble from the previous week, EOS ended the week at $5.7758.

A choppy start to the week saw EOS slide from an intraweek high $6.3995 to a Monday intraweek low $5.5646.

In spite of the reversal, EOS steered clear of the first major support level at $5.3753 to move back to $6.17 levels.

The downward bias persisted through the week, however, with EOS falling back through to $5.6 levels.

A late rally on Saturday to $6.00 levels was short-lived, with EOS ending the week back at sub-$6.00 levels.

For the week ahead

A move through to $5.92 levels would support a run at the week’s first major resistance level at $6.262.

EOS would need the support of the broader market, however, to break out from $6.00 levels on the week.

In the event of a broad-based crypto rally, EOS could break through last week’s high $6.3995 to take a run at the 23.6% FIB of $6.62.

Barring a broad-based rally, last week’s high would likely cap any upside on the week.

Failure to move through to $5.92 levels would bring the first major support level at $5.4271 into play.

Barring a crypto meltdown EOS should steer clear of sub-$5.00 support levels on the week.

At the time of writing, EOS was up 0.04% to $5.7779.

EOS/USD 07/07/19 Weekly Chart

Ethereum

Ethereum slid by 9.3% in the week ending 6th July. Reversing a 2.76% gain from the previous week, Ethereum ended the week at $287.58.

A bearish start to the week saw Ethereum slide by 8.51% on Sunday, 30th June. Ethereum fell to sub-$290 levels before finding support.

Steering clear of the first major support level at $272.17, Ethereum managed to recover to $300 levels on Monday.

A Tuesday sell-off saw Ethereum slide to an intraweek low $270.43 before a 2nd recovery to $300 levels.

$300 proved to be the resistance level of the week, however, with Ethereum unable to hold onto $300 levels in the 2nd half of the week.

Whilst steering clear of the 23.6% FIB of $257, Ethereum also fell well short of the week’s first major resistance level at $363.16.

For the week ahead

A move through to $294 levels would support a move back through to $300 levels. Ethereum would need the support of the broader market, however, to take a run at the first major resistance level at $317.31.

Barring a broad-based crypto rally, Ethereum would likely come up short of $310 levels on the week.

In the event of a crypto rebound, Ethereum could take a run at last week’s high $323.61.

Failure to move through to $294 levels could see Ethereum give up more ground in the week. A fall through to $270 levels would bring the first major support level at $264.12 into play before any recovery.

Barring a crypto meltdown, Ethereum should continue to hold above the 23.6% FIB of $257.

At the time of writing, Ethereum was down by 0.28% to $286.77.

ETH/USD 07/07/19 Weekly Chart

Ethereum Analysis – Resistance Levels in Play – 26/06/19

Bitcoin, Ethereum, Litecoin Digital cryptocurrencys on a notebook

Ethereum Price Resistance

It’s been a bullish first half of the week. Following last week’s 14.6% rally, Ethereum was up by 2.62%, Sunday through Tuesday.

A bearish start to the week saw Ethereum fall to an early Monday current week low $296.68 before finding support.

Steering well clear of the first major support level at $274.48, Ethereum rallied to a Tuesday high $317.4.

In spite of 3 consecutive days in the green, Ethereum came up short of the first major resistance level at $329.02.

Following a 66.9% rally in May, Ethereum was up by 18.3% in June. After a choppy start to the month, Ethereum managed to recover from a fall back through the 23.6% FIB of $257 to a June low $226.56.

The extended bearish trend, formed at last May 2018’s swing hi $828.97, remained firmly intact, however. Ethereum continued to fall short of the 38.2% FIB Retracement Level of $367, following December’s swing lo $80.6.

For the bulls, a breakout from the 38.2% FIB of $367 would be needed to form a near-term bullish trend.

At the time of writing, Ethereum was up by 5% to $332.43. The Wednesday morning rally saw Ethereum break through the first major resistance level at $329.02 to a current week high $339.0.

ETH/USD 26/06/19 Weekly Chart

For the remainder of the week

A move back through the Wednesday morning current week high $339.0 would support a run at $350 levels.

Ethereum would need the support of the broader market, however, to break out from $340 levels.

In the event of a broad-based crypto rally, a breakthrough the second major resistance level at $349.55 would bring the 38.2% FIB of $367 into view. A hold above the first major resistance level at $329.02 would be key mid-week.

A Bitcoin break through to $13,000 levels would give Ethereum momentum through the latter part of the week.

For the current week, however, we would expect Ethereum to come up short of $360 levels.

Failure to move back through the current week high $339.0 could see Ethereum give up some of the current week gains.

A fall through to sub-$325 levels could see Ethereum pullback to $315 levels before any recovery.

Barring a broad-based sell-off in the 2nd half of the week, however, Ethereum should steer well clear of the first major support level at $274.48.

In the event of a broad-based crypto reversal, Ethereum could visit $280 levels before any recovery.

Looking at the Technical Indicators

 

Major Support Level: $274.48

Major Resistance Level: $329.02

23.6% FIB Retracement Level: $257

38.2% FIB Retracement Level: $367

62% FIB Retracement Level: $543

Bitcoin Continues to Find Support as Some of the Majors Struggle

Bitcoin, Ethereum, Litecoin Digital cryptocurrencys on a notebook

Bitcoin rose by 1.47% on Monday. Following on from a 1.57% gain from Sunday, Bitcoin ended the day at $11,069. It was Bitcoin’s first hold onto $11,000 levels at the day end since 5th March 2018.

A particularly bearish start to the day saw Bitcoin slide to an early morning intraday low $10,560.00.

Bitcoin came within range of the first major support level at $10,533.67 before rallying to a late afternoon intraday high $11,136.00.

Bitcoin fell short of the first major resistance level at $11,330.67 before a pullback to sub-$11,000 levels.

Support from the broader market kicked in late in the day, with Bitcoin moving back through to $11,000 levels.

Elsewhere

Across the top 10 cryptos, it was a mixed bag for the majors.

Leading the way on the day was Bitcoin Cash ABC, which rose by 1.52%. Ethereum (1.35%), Ripple’s XRP (0.76%) and Binance Coin (0.59%) saw more modest gains on the day.

Bucking the trend was Litecoin, which fell by 1.02%. EOS and Bitcoin Cash SV also saw red, falling by 0.26% and by 0.22% respectively.

Bitcoin’s gain on the day led to a further rise in dominance to 59.4%. Bitcoin’s dominance last touched 60% levels back in 2017.

The upward bias across the majors saw the total crypto market cap move through to $330bn levels, while trading volumes eased back.

Across the news wires, there’s been plenty of bullish talk to support Bitcoin and the broader market, though the jury is still out on how the G20 rules and regs and the SEC’s pending reviews of the Bitcoin ETFs will impact on Bitcoin and the broader market.

For the Bitcoin bulls, the near-term bullish trend, formed at mid-December’s swing lo $3,215.2 remains firmly intact. Bitcoin continues to hold well above the 23.6% FIB of $9,445.00.

This Morning

At the time of writing, Bitcoin was up by 0.32% to $11,104.00. A bullish start to the day saw Bitcoin hit a morning high $11,168.00 before falling back to an early morning low $11,028.00.

Bitcoin left the major support and resistance levels untested early on and, more importantly, held onto $11,000 levels.

Elsewhere, it was a mixed start to the day. While Litecoin found early support, rising by 1.06% at the time of writing, Bitcoin Cash ABC and Bitcoin Cash SV struggled. The pair were down by 0.77% and 0.71% respectively.

Leading the way in the early part of the day was Stellar’s Lumen, however, which was up by 1.14%.

BTC/USD 25/06/19 Daily Chart

For the day ahead

Bitcoin will need to hold onto $11,100 levels through the morning would support a run at $11,200 levels later in the day.

Bitcoin would need the support of the broader market, however, to take a run at the first major resistance level at $11,283.33.

Barring a broad-based crypto rally, Bitcoin will likely struggle to break out from $11,100 levels on the day.

Failure to hold onto $11,000 levels could see Bitcoin slide back to test the first major support level at $10,707.33.

Barring a crypto meltdown, Bitcoin should steer clear of Monday’s low $10,560.00.

Altcoins Weekly Analysis – BNB, EOS and ETH – 23/06/19

Bitcoin, Ethereum, Litecoin Digital cryptocurrencys on a notebook

Binance Coin

Binance Coin surged by 15.8% in the week ending 22nd June. Following on from a 3.05% gain from the previous week, Binance Coin ended the week at $38.04.

A bearish start the week saw Binance Coin fall to a Sunday intraweek low $30.72 before finding support.

While steering clear of the first major support level at $29.44, Binance Coin found support at the 23.6% FIB of $30.5.

Bullish through the rest of the week, Binance Coin rallied to a Saturday intraweek high and new swing hi $43.28.

The rally saw Binance Coin break through the first major resistance level at $36.35 and second major resistance level at $39.89.

A pullback on Saturday to end the week at $38 levels delivered a 2nd day in the red for the week.

For the week ahead

A hold onto $38 levels through the early part of the week would support a third consecutive week in the green.

Support from the broader market would bring the first major resistance level at $43.68 into play before any pullback.

Barring a broad-based crypto rally, however, the first major resistance level and last week’s high $43.68 would likely cap the upside on the week.

In the event of a broad-based crypto rally, a move through last week’s swing hi $43.28 would bring the second major resistance level at $49.33 into play.

Failure to hold onto $38 levels could see Binance Coin hit reverse. A pullback through to $36 levels would bring the first major support level at $31.99 into play.

Barring a crypto meltdown, Binance Coin would likely steer clear of sub-$30 support levels on the week.

At the time of writing, Binance Coin was 0.71% to $38.31.

BNB/USD 23/06/19 Weekly Chart

EOS

EOS rallied by 8.59% in the week ending 22nd June. Following on from an 8.29% rise from the previous week, EOS ended the week at $7.51.

A bullish start to the week saw EOS rise to $7.2691 before falling to an intraweek low $6.6462 on Tuesday.

The early moves saw EOS break through the first major resistance level at $7.2561 whilst steering clear of the major support levels.

EOS did find support at the 23.6% FIB of $6.62, however, before a bullish end to the week.

A late in the week rally saw EOS break back through the first major resistance level at $7.2561 to a Saturday intraweek high $7.6254.

For the week ahead,

EOS would need to steer clear of sub-$7.30 levels in the week to also support a 3rd consecutive day in the green.

A move through last week’s high $7.6254 would bring the first major resistance level at $7.8749 into play before any pullback.

EOS would need support from the broader market, however, to break through to $8.00 levels.

Barring a broad-based crypto rally, EOS would likely fall short of the second major resistance level at $8.2397.

In the event of another breakout, EOS could come within reach of $9.00 levels before any pullback.

A fall through to $7.2 levels would bring the first major support level at $6.8957 into play before any recovery.

Barring a broad-based crypto sell-off, EOS should steer clear of the 23.6% FIB of $6.62

In the event of a sell-off, EOS could touch $6.50 levels before any recovery.

At the time of writing, EOS was up 0.64% to $6.955.

EOS/USD 23/06/19 Weekly Chart

Ethereum

Ethereum rallied by 14.57% in the week ending 22nd June. Following on from a 10.23% gain from the previous week, Ethereum ended the week at $308.49.

A bearish start to the week saw Ethereum fall to an intraweek low $261.00 on Tuesday before finding support.

Steering clear of the major support levels and 23.6% FIB of $257.00, Ethereum rallied to an intraweek high $315.54.

4-consecutive days saw Ethereum break through the first major resistance level at $286.21 and second major resistance level at $303.12.

For the week ahead,

A hold onto $300 levels through the early part of the week would support a run at $330 levels later in the week.

Ethereum would need support from the broader market, however, to break out from last week’s high $315.54.

Barring a crypto rally, last week’s high $315.54 would likely cap the upside on the week.

In the event of a broad-based crypto rally, a move through to $320 levels would bring the first major resistance level at $329.02 into play.

Failure to hold onto $300 levels could see Ethereum fall through to $280 levels before any recovery.

Barring a broad-based crypto sell-off, Ethereum should steer clear of the first major support level at $274.48 before any recovery.

In the event of a sell-off, Ethereum would likely visit $260 levels before any recovery.

At the time of writing, Ethereum was up 1.64% to $313.54.

ETH/USD 23/06/19 Weekly Chart