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June 17, 2021June 17, 2021

The Crypto Daily – Movers and Shakers – June 17th, 2021

Silver and golden coins with bitcoin, ripple and ethereum symbol

Bitcoin, BTC to USD, slid by 4.48% on Wednesday. Following a 0.92% loss on Tuesday, Bitcoin ended the day at $38,346.0.

A mixed start to the day saw Bitcoin rise to a mid-morning intraday high $40,460.0 before hitting reverse.

Falling short of the first major resistance level at $41,125, Bitcoin slid to a late intraday low $38,121.0.

Bitcoin fell through the first major support level at $39,298 and the second major support level at $38,458 to end the day at sub-$38,500 levels.

The near-term bullish trend remained intact in spite of the latest slide back to $38,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Wednesday.

Polkadot bucked the trend on the day, rising by 0.61%.

It was a bearish day for the rest of the majors, however.

Chainlink and Ethereum slid by 6.25% and by 6.91% respectively to lead the way down.

Binance Coin (-5.33%), Bitcoin Cash SV (-4.11%), Cardano’s ADA (-4.57%), Litecoin (-4.90%), and Ripple’s XRP (-3.95%) also struggled.

Crypto.com Coin fell by a more modest 0.51% on the day.

In the current week, the crypto total market rose to a Tuesday high $1,708bn before falling to a Wednesday low $1,543bn. At the time of writing, the total market cap stood at $1,574bn.

Bitcoin’s dominance fell to a Monday low 45.34% before rising to a Wednesday high 46.26%. At the time of writing, Bitcoin’s dominance stood at 45.80%.

This Morning

At the time of writing, Bitcoin was up by 0.35% to $38,480.0. A mixed start to the day saw Bitcoin fall to an early morning low $38,211.0 before rising to a high $38,621.1.

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

Elsewhere, it was a mixed start to the day.

Crypto.com Coin was down by 1.46% to buck the trend early on.

It was a bullish start for the rest of the majors, however.

At the time of writing, Chainlink was up by 1.65% to lead the way.

For the Bitcoin Day Ahead

Bitcoin would need to move through the $38,976 pivot to bring the first major resistance level at $39,830 into play.

Support from the broader market would be needed for Bitcoin to break back through to $39,000 levels.

Barring a broad-based crypto rally, the first major resistance level and resistance at $40,000 would likely cap any upside.

In the event of another extended crypto rally, Bitcoin could test resistance at the 38.2% FIB of $41,592 before any pullback. The second major resistance level sits at $41,315.

Failure to move through the $38,976 pivot would bring the first major support level at $37,491 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$36,000 levels. The second major support level at $36,637 should limit the downside.

June 16, 2021

Binance Coin Mid-Week Analysis – Resistance Levels in Play – 16/06/21

Binance Coin Price Resistance

It’s been a bullish 1^st half of the week for Binance Coin.

A mixed start to the week, however, saw Binance Coin slid to a Sunday current week low $318.81 before making a move.

Steering clear of the first major support level at $304, Binance Coin rallied to a Monday current week high $386.58.

Falling short of the first major resistance level at $396, however, Binance Coin eased back to sub-$370 levels.

For the current week, Sunday through Tuesday, Binance Coin was up by 6.69% to $366.84. A 6.45% rally on Sunday and a 1.20% gain from Monday delivered the upside early in the week.

The near-term bullish trend remained intact in spite of the recent return to sub-$300 levels. For the bears, a sustained fall through the 62% FIB of $272 would form a near-term bearish trend.

It has been a bullish first half of the year, however, with Binance Coin up by 879%.

At the time of writing, Binance Coin was down by 0.68% to $364.34. A mixed start to the day on Wednesday saw Binance Coin rise to an early morning high $367.02 before falling to a low $362.73.

Binance Coin left the major support and resistance levels untested early in the day on Wednesday.

For the remainder of the week

Binance Coin would need to avoid a fall back through the pivot at $356 to bring the first major resistance level at $396 back into play.

Support from the broader market would be needed, however, for Binance Coin to break out from the current week high $386.58.

Barring an extended rally going into the weekend, the first major resistance level and resistance at $400 would likely cap any upside.

In the event of an extended breakout, however, Binance Coin could test resistance at the 38.2% FIB of $438 and the second major resistance level at $448.

A fall back through the $356 pivot would bring the first major support level at $304 back into play.

Barring an extended sell-off going into the weekend, however, Binance Coin should steer of the 62% FIB of $273. The second major support level sits at $265.

Looking at the Technical Indicators

First Major Support Level: $304

Pivot Level: $356

First Major Resistance Level: $396

23.6% FIB Retracement Level: $540

38.2% FIB Retracement Level: $438

62% FIB Retracement Level: $273

June 15, 2021June 15, 2021

The Crypto Daily – Movers and Shakers – June 15th, 2021

Different cryptocurrencies in a circle with a golden bitcoin in

Bitcoin, BTC to USD, rose by 3.87% on Monday. Following a 9.66% rally on Sunday, Bitcoin ended the day at $40,509.0.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $38,732.0 before making a move.

Steering clear of the first major support level at $36,075, Bitcoin surged to an early afternoon intraday high $40,980.0.

Bitcoin broke through the first major resistance level at $40,649 before falling back to sub-$40,000 levels.

Finding late support, however, Bitcoin moved back through to $40,500 levels to deliver the upside on the day.

The near-term bullish trend remained intact supported by the latest move back through to $40,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a bullish day on Monday.

Bitcoin Cash SV surged by 18.05% to lead the day, with Polkadot rallying by 13.03%.

Chainlink (+7.09%), Crypto.com Coin (+6.73%), and Litecoin (+5.32%) also found strong support.

Binance Coin (+1.20%), Cardano’s ADA (+1.26%), Ethereum (+2.89%), and Ripple’s XRP (+0.55%) trailed the front runners, however.

Early in the week, the crypto total market fell to a Monday low $1,591bn before rising to a Monday high $1,667bn. At the time of writing, the total market cap stood at $1,656bn.

Bitcoin’s dominance fell to a Monday low 45.44% before rising to a Monday high 46.18%. At the time of writing, Bitcoin’s dominance stood at 45.66%.

This Morning

At the time of writing, Bitcoin was down by 0.50% to $40,308.0. A mixed start to the day saw Bitcoin rise to an early morning high $40,621.0 before falling to a low $40,308.0.

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

Elsewhere, it was a bearish start to the day.

At the time of writing, Crypto.com Coin was down by 1.24% to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $40,074 pivot to bring the first major resistance level at $41,415 and the 38.2% FIB of $41,592 into play.

Support from the broader market would be needed for Bitcoin to break out from Monday’s high $40,980.0.

Barring a broad-based crypto rally, the first major resistance level and resistance at the 38.2% FIB would likely cap any upside.

In the event of another extended crypto rally, Bitcoin could test resistance at $43,000 before any pullback. The second major resistance level sits at $42,322.

A fall through the $40,074 pivot would bring the first major support level at $39,167 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$38,000 levels. The second major support level sits at $37,826.

June 13, 2021

Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 130621

Binance Coin

Binance Coin slid by 11.95% in the week ending 12^th June. Partially reversing a 27.75% rally from the previous week, Binance Coin ended the week at $343.77.

A bullish start to the week saw Binance Coin rise to a Monday intraweek high $408.63 before hitting reverse.

Falling short of the 38.2% FIB of $438 and the first major resistance level at $453, Binance Coin slid to a Tuesday intraweek low $316.75.

Steering clear of the first major support level at $309, Binance Coin revisited $397 levels before sliding back into the red.

5 days in the red that included a 9.06% slide on Monday and a 6.28% decline delivered the downside.

For the week ahead

Binance Coin would need to move through the $356 pivot to bring the first major resistance level at $396 into play.

Support from the broader market would be needed, however, for Binance Coin to break out from $350 levels.

Barring an extended rally, the first major resistance level and last week’s high $408.63 should limit any upside.

In the event of a broad-based crypto rebound, Binance Coin could test resistance at the 38.2% FIB of $438 and the second major resistance level at $448.

Failure to move through the $356 pivot would bring the first major support level at $304 into play.

Barring an extended sell-off, however, Binance Coin should steer clear of the second major support level at $265. The 62% FIB of $273 should limit the downside.

At the time of writing, Binance Coin was down by 0.26% to $342.88. A mixed start to the week saw Binance Coin rise to an early Sunday high $346.14 before falling to a low $340.43.

Binance Coin left the major support and resistance levels untested at the start of the week.

Litecoin

Litecoin fell by 6.45% in the week ending 12^th June. Reversing a 5.38% gain from the previous week, Litecoin ended the week at $161.85.

A mixed start to the week saw Litecoin rise to a Monday intraweek high $182.25 before hitting reverse.

Falling short of the first major resistance level at $195, Litecoin slid to a Tuesday intraweek low $145.20.

The sell-off saw Litecoin fall through the 62% FIB of $174 and the first major support level at $153.

Steering clear of sub-$140 levels, Litecoin broke back through the first major support level to revisit $173 levels before easing back.

The 62% FIB of $174 pinned Litecoin back in the 2^nd half of the week.

4 days in the red that included an 8.16% slide on Monday delivered the downside for the week.

For the week ahead

Litecoin would need to move through the $163 pivot to bring the 62% FIB of $174 and the first major resistance level at $181 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $180 levels.

Barring an extended crypto rally, the first major resistance level and last week’s high $182.25 would likely limit any upside.

In the event of a broad-based crypto rally, Litecoin could test the second major resistance level at $200.

Failure to move through the $163 pivot would bring the first major support level at $144 into play.

Barring another extended crypto sell-off, however, Litecoin should steer clear of sub-$140 levels. The second major support level sits at $126.

At the time of writing, Litecoin was down by 0.37% to $161.25. A mixed start to the week saw Litecoin rise to an early Sunday high $162.44 before falling to a low $160.72.

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

Tron’s TRX

Tron’s TRX slid by 9.41% in the week ending 12^th June. Reversing a 10.40% gain from the previous week, Tron’s TRX ended the week at $0.06825.

A mixed start to the week saw Tron’s TRX rise to a Monday intraweek high $0.07899 before hitting reverse.

Falling short of the first major resistance level at $0.08456, Tron’s TRX fell to a Saturday intraweek low $0.06341.

The sell-off saw Tron’s TRX fall through the 62% FIB of S0.0748 and the first major support level at $0.06631.

Finding support through Saturday, Tron’s TRX broke back through the first major support level to end the week at $0.068 levels.

4 days in the red that included a 7.93% slide on Monday delivered the upside.

For the week ahead

Tron’s TRX would need to move through the $0.07154 pivot and the 62% FIB of $0.07480 to support a run at the first major resistance level at $0.07856.

Support from the broader market would be needed, however, for Tron’s TRX to break out from the 62% FIB.

Barring a broad-based crypto rally, first major resistance level and resistance at $0.080 would likely cap any upside.

In the event of an extended rally, Tron’s TRX could test resistance at $0.090. The second major resistance level sits at $0.08888.

Failure to move through the $0.07154 pivot would bring the first major support level at $0.06122 into play.

Barring another extended crypto sell-off, however, Tron’s TRX should steer clear of the second major support level at $0.05420.

At the time of writing, Tron’s TRX was down by 0.14% to $0.06815. A mixed start to the week saw Tron’s TRX rise to an early Sunday high $0.06839 before falling to a low $0.06754.

Tron’s TRX left the support and resistance levels untested early on.

June 10, 2021

The Crypto Daily – Movers and Shakers – June 10th, 2021

Bitcoin, BTC to USD, rallied by 11.83% on Wednesday. Following a 0.04% decline on Tuesday, Bitcoin ended the day at $37,368.0.

A bearish start to the day saw Bitcoin fall to an early morning intraday low $32,469.0 before making a move.

Steering clear of the first major support level at $31,634, Bitcoin surged to a late intraday high $37,499.0.

Bitcoin broke through the first major resistance level at $34,611 and the second major resistance level at $35,820.

Falling short of $38,000 levels, however, Bitcoin eased back to end the day at $37,300 levels.

The near-term bullish trend remained intact supported by the latest move back through to $37,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Wednesday.

Polkadot fell by 4.34% to buck the trend on the day.

It was a bullish day for the rest of the majors, however.

Crypto.com Coin rallied by 11.01% to lead the way.

Bitcoin Cash SV (+9.26%) and Litecoin (+7.37%) also found strong support.

Binance Coin (+6.47%), Cardano’s ADA (+2.85%), Chainlink (+6.01%), Ethereum (+4.07%), and Ripple’s XRP (+5.58%) trailed the front runners, however.

In the current week, the crypto total market rose to a Monday high $1,670bn before falling to a Tuesday low $1,374bn. At the time of writing, the total market cap stood at $1,600bn.

Bitcoin’s dominance fell to a Monday low 41.28% before rising to an early Thursday high 43.59%. At the time of writing, Bitcoin’s dominance stood at 43.54%.

This Morning

At the time of writing, Bitcoin was down by 0.65% to $37,125.0. A mixed start to the day saw Bitcoin rise to an early morning high $37,622.0 before falling to a low $36,848.1.

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

Elsewhere, it was a mixed start to the day.

Crypto.com Coin was up by 0.74% to buck the trend early on.

It was a bearish start for the rest of the majors, however.

At the time of writing, Binance Coin was down by 1.34% to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $35,779 pivot to bring the first major resistance level at $39,088 into play.

Support from the broader market would be needed for Bitcoin to break back through to $39,000 levels.

Barring a broad-based crypto rally, the first major resistance level and resistance at $40,000 would likely cap any upside.

In the event of another extended crypto rally, Bitcoin could test resistance at the 38.2% FIB of $41,592 before any pullback. The second major resistance level sits at $40,809.

A fall through the $35,779 pivot would bring the first major support level at $34,058 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$34,000 levels. The second major support level sits at $30,749.

June 9, 2021

Binance Coin Mid-Week Analysis – Support Levels in Play – 09/06/21

Binance Coin Price Support

It’s been a bearish 1^st half of the week for Binance Coin.

A mixed start to the week, however, saw Binance Coin rise to a Monday current week high $408.63 before hitting reverse.

Falling short of the 38.2% FIB of $438 and the first major resistance level at $453, Binance Coin slid to a Tuesday current week low $316.75.

Steering clear of the first major support level at $309, Binance Coin returned to $350 levels to limit the downside.

For the current week, Sunday through Tuesday, Binance Coin was down by 9.63% to $352.83. A 9.06% slide on Monday and a 1.46% fall on Tuesday delivered the downside through the early part of the week.

The near-term bullish trend remained intact in spite of the recent return to sub-$300 levels. For the bears, a sustained fall through the 62% FIB of $272 would form a near-term bearish trend.

It has been a bullish first half of the year, however, with Binance Coin up by 842%.

At the time of writing, Binance Coin was down by 4.42% to $337.25 on Wednesday morning. A mixed start to the day saw Binance Coin rise to an early high $354.94 before falling to a low $333.19.

Binance Coin left the major support and resistance levels untested early in the day on Wednesday.

For the remainder of the week

Binance Coin would need to move back through the pivot at $372 to bring the 38.2% FIB of $438 and the first major resistance level at $453 back into play.

Support from the broader market would be needed, however, for Binance Coin to break out from the current week high $408.63.

Barring an extended rally going into the weekend, the first major resistance level at $453 would likely cap any upside.

In the event of an extended breakout, however, Binance Coin could test the second major resistance level at $515.

Failure to move back through the $372 pivot would bring the first major support level at $309 back into play.

Barring an extended sell-off going into the weekend, however, Binance Coin should steer of the 62% FIB of $273. The second major support level sits at $228.

Looking at the Technical Indicators

First Major Support Level: $309

Pivot Level: $372

First Major Resistance Level: $453

23.6% FIB Retracement Level: $540

38.2% FIB Retracement Level: $438

62% FIB Retracement Level: $273

June 8, 2021

The Crypto Daily – Movers and Shakers – June 8th, 2021

Bitcoin, BTC to USD, slid by 6.17% on Monday. Reversing a modest 0.67% gain from Sunday, Bitcoin ended the day at $33,572.0.

A bullish start to the day saw Bitcoin rise to an early morning intraday high $36,784.0 before hitting reverse.

Bitcoin broke through the first major resistance level at $36,431 and the second major resistance level at $37,081.

The reversal saw Bitcoin slide through the first major support level at $35,174 and the second major support level at $34,567 to a late intraday low $33,550.0.

Coming within range of the third major support level at $33,310, Bitcoin briefly revisited $34,000 levels before easing back.

The near-term bullish trend remained intact in spite of the latest fall back through to sub-$34,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Monday.

Crypto.com Coin rose by 2.76% to buck the trend on the day.

It was a bearish day for the rest of the majors, however.

Chainlink slid by 10.64% to lead the way down. Binance Coin (-9.06%), Litecoin (-8.16%), and Ripple’s XRP (-8.77%) also saw deep red.

Bitcoin Cash SV (-7.14%), Cardano’s ADA (-6.62%), Ethereum (-4.37%), and Polkadot (-4.32%) also struggled, however

Early in the week, the crypto total market rose to a Monday high $1,656bn before falling to a Monday low $1,490bn. At the time of writing, the total market cap stood at $1,502bn.

Bitcoin’s dominance fell to a Monday low 41.28% before rising to a Monday high 41.95%. At the time of writing, Bitcoin’s dominance stood at 41.76%.

This Morning

At the time of writing, Bitcoin was up by 0.02% to $33,579.4. A mixed start to the day saw Bitcoin fall to an early morning low $33,461.2 before rising to a high $34,052.0.

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

Elsewhere, it was a mixed start to the day.

Binance Coin (+0.57%) and Litecoin (+0.07%) bucked the trend early on to join Bitcoin in the green.

It was a bearish start for the rest of the majors, however.

At the time of writing, Crypto.com Coin was down by 9.15% to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to move through the $34,635 pivot to bring the first major resistance level at $35,721 into play.

Support from the broader market would be needed for Bitcoin to break back through to $36,000 levels.

Barring a broad-based crypto rally, the first major resistance level and Monday’s high $36,784.0 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test the second major resistance level at $37,869 and resistance at $38,000.

Failure to move through the $34,635 pivot would bring the first major support level at $32,487 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$30,000. The second major support level at $31,401 should limit the downside.

June 6, 2021

Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 06/06/21

Binance Coin

Binance Coin rallied by 27.75% in the week ending 5^th June. Following a 1.76% gain from the previous week, Binance Coin ended the week at $390.3.

A bearish start to the week saw Binance Coin fall to a Sunday intraweek low $290.60 before finding support.

Steering clear of the 62% FIB of $273 and the major support levels, Binance Coin rallied to a Thursday intraweek high $434.06.

Binance Coin broke through the first major resistance level at $394 to come within range of the 38.2% FIB of $438.

Coming up well short of the second major resistance level at $482, Binance Coin fell back to end the week at sub-$400, levels.

The pullback saw Binance Coin also fall back through the first major resistance level at $394.

5 days in the green that included a 10.85% rally on Wednesday delivered the upside.

For the week ahead

Binance Coin would need to avoid the $372 pivot to bring the 38.2% FIB of $438 and the first major resistance level at $453 into play.

Support from the broader market would be needed, however, for Binance Coin to break out from last week’s high $434.06.

Barring an extended rally, the first major resistance level should limit any upside.

In the event of a broad-based crypto rebound, Binance Coin could test resistance at the 23.6% FIB of $540 before any pullback. The second major resistance level sits at $515.

A fall through the $372 pivot would bring the first major support level at $309 into play.

Barring an extended sell-off, however, Binance Coin should steer clear of the 62% FIB of $273. The second major support level sits at $228.

At the time of writing, Binance Coin was up by 0.12% to $390.76. A mixed start to the week saw Binance Coin rise to an early Sunday morning high $393.86 before falling to a low $385.96.

Binance Coin left the major support and resistance levels untested at the start of the week.

Litecoin

Litecoin rose by 5.38% in the week ending 5^th June. Reversing a 3.16% loss from the previous week, Litecoin ended the week at $173.02.

A mixed start to the week saw Litecoin slide to a Sunday intraweek low $155.28 before making a move.

Steering clear of the first major support level at $118, Litecoin bounced back to a Thursday intraweek high $197.67.

While falling short of the first major resistance level at $210, Litecoin broke back through the 62% FIB of $174.

A bearish end to the week, however, saw Litecoin fall back through the 62% FIB to end the week at $173 levels.

4 days in the green that included a 10.15% rally on Monday delivered the upside for the week.

For the week ahead

Litecoin would need to move through the 62% FIB of $174 and the $175 pivot to bring the first major resistance level at $195 into play.

Support from the broader market would be needed, however, for Litecoin to break back through to $190 levels.

Barring an extended crypto rally, the first major resistance level and last week’s high $197.67 would likely limit any upside.

In the event of a broad-based crypto rally, Litecoin could test resistance at $220. The second major resistance level sits at $217.

Failure to move through the 62% FIB of $174 and the $175 pivot would bring the first major support level at $153 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$140 levels. The second major support level sits at $133.

At the time of writing, Litecoin was up by 0.35% to $173.68. A mixed start to the week saw Litecoin fall to an early Sunday low $171.82 before rising to a high $174.15.

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

Tron’s TRX

Tron’s TRX rose by 10.40% in the week ending 5^th June. Reversing a 9.47% slide from the previous week, Tron’s TRX ended the week at $0.07569.

A mixed start to the week saw Tron’s TRX fall to a Sunday intraweek low $0.06579 before making a move.

Steering clear of the first major support level at $0.05330, Tron’s TRX rallied to a Friday intraweek high $0.08404.

While falling short of the first major resistance level at $0.08522, Tron’s TRX broke back through the 62% FIB of $0.07480.

A bearish end to the week, however, saw Tron’s TRX briefly fall back through the 62% FIB before ending the week at $0.756 levels.

4 days in the green that included a 7.18% rally on Monday delivered the upside.

For the week ahead

Tron’s TRX would need to avoid the $0.07517 pivot and the 62% FIB of $0.07480 to support a run at the first major resistance level at $0.08456.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.080 levels.

Barring a broad-based crypto rally, first major resistance level and last week’s high $0.08404 would likely cap any upside.

In the event of an extended rally, Tron’s TRX could test the second major resistance level at $0.0934.

A fall through the $0.7517 pivot and the 62% FIB of $0.07480 would bring the first major support level at $0.06631 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer clear of sub-$0.060 levels. The second major support level sits at $0.05692.

At the time of writing, Tron’s TRX was up by 0.30% to $0.07592. A mixed start to the week saw Tron’s TRX fall to an early Sunday morning low $0.07478 before rising to a high $0.07622.

While leaving the support and resistance levels untested early on, Tron’s TRX tested support at the 62% FIB of $0.07480.

June 3, 2021

The Crypto Daily – Movers and Shakers – June 3rd, 2021

Bitcoin, BTC to USD, rose by 2.47% on Wednesday. Reversing a 1.63% fall from Tuesday, Bitcoin ended the day at $37,577.0.

A bearish start to the day saw Bitcoin fall to an early morning intraday low $35,933.0 before making a move.

Steering clear of the first major support level at $35,592, Bitcoin rallied to a mid-afternoon intraday high $38,222.0.

Bitcoin broke through the first major resistance level at $37,821 before easing back to end the day at sub-$37,600 levels.

The near-term bullish trend remained intact in spite of the recent slide back to sub-$30,000 levels. For the bears, Bitcoin would need a sustained fall through the 62% FIB of $27,237 to form a near-term bearish trend.

The Rest of the Pack

Across the rest of the majors, it was a mixed day on Wednesday.

Chainlink slipped by 0.12% to buck the trend on the day.

It was a bullish day for the rest of the majors, however.

Binance Coin jumped by 10.85% to lead the way.

Bitcoin Cash SV (+9.65%), Crypto.com Coin (+8.79%), and Polkadot (+10.80%) also made solid gains.

Cardano’s ADA (+1.01%), Ethereum (+2.74%), Litecoin (+2.33%), and Ripple’s XRP (+1.43%) trailed the front runners, however.

In the current week, the crypto total market fell to a Monday low $1,450bn before rising to a Wednesday high $1,716bn. At the time of writing, the total market cap stood at $1,656bn.

Bitcoin’s dominance rose to a Monday high 44.17% before falling to a Wednesday low 41.72%. At the time of writing, Bitcoin’s dominance stood at 42.30%.

This Morning

At the time of writing, Bitcoin was down by 0.46% to $37,403.0. A mixed start to the day saw Bitcoin rise to an early morning high $37,879.0 before falling to a low $37,368.9.

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

Elsewhere, it was a mixed start to the day.

Polkadot bucked the trend early on, rising by 0.66%.

It was a bearish start for the rest of the majors, however.

At the time of writing, Ripple’s XRP was down by 1.38% to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to avoid the pivot level at $37,244 to bring the first major resistance level at $38,555 into play.

Support from the broader market would be needed for Bitcoin to break out from Wednesday’s high $38,222.0.

Barring a broad-based crypto rally, the first major resistance level and Wednesday’s high would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at the 38.2% FIB of $41,592. The second major resistance level sits at $39,533.

A fall through the pivot at $37,244 would bring the first major support level at $36,266 into play.

Barring another extended sell-off on the day, Bitcoin should continue to steer clear of sub-$35,000 levels. The second major support level sits at $34,955.

June 2, 2021

Binance Coin Mid-Week Analysis – Resistance Levels in Play – 02/06/21

Kiev, Ukraine, March, 13, 2018: Coins of different crypto-currencies with dollars

Binance Coin Price Resistance

It’s been a bullish 1^st half of the week for Binance Coin.

A mixed start to the week, however, saw Binance Coin fall to a Sunday current week low $290.60 before finding support.

Steering clear of the 62% FIB of $273 and the first major support level at $218, Binance Coin rallied to a Tuesday current week high $375.33.

Falling short of the first major resistance level at $394, Binance Coin slipped back to end the day at sub-$370 levels.

For the current week, Sunday through Tuesday, Binance Coin was up by 18.55% to $362.20. Three consecutive days in the green that included a 6.79% gain on Sunday and an 8.58% rally on Monday delivered the upside in the early part of the week.

The near-term bullish trend remained intact in spite of the recent return to sub-$300 levels. For the bears, a sustained fall through the 62% FIB of $272 would form a near-term bearish trend.

It has been a bullish start to the year, with Binance Coin up by 867%.

At the time of writing, Binance Coin was down by 2.12% to $354.62. A mixed start to the day on Wednesday saw Binance Coin rise to an early high $366.11 before falling to a low $353.07.

Binance Coin left the major support and resistance levels untested early in the day on Wednesday.

For the remainder of the week

Binance Coin would need to avoid a fall back through the pivot at $307 to bring the first major resistance level at $394 back into play.

Support from the broader market would be needed, however, for Binance Coin to break out from the current week high $375.37.

Barring an extended rally going into the weekend, the first major resistance level and resistance at $400 would likely cap any upside.

In the event of an extended breakout, however, Binance Coin could test resistance at the 38.2% FIB of $438. The second major resistance level sits at $482.

A fall back through the $307 pivot would bring the 62% FIB of $273 back into play.

Barring an extended sell-off, however, Binance Coin should steer of the first major support level at $218. The second major support level sits at $131.

Looking at the Technical Indicators

First Major Support Level: $218

Pivot Level: $307

First Major Resistance Level: $393

23.6% FIB Retracement Level: $540

38.2% FIB Retracement Level: $438

62% FIB Retracement Level: $273