The Crypto Daily – Movers and Shakers – 31/12/19

bitcoin with us dollars and calculator

Bitcoin fell by 2.09% on Monday. Reversing 1.08% gain from Sunday, Bitcoin ended the day at $7,260.9.

A bearish start to the day saw Bitcoin recover from an early dip to strike a mid-morning intraday high $7,421.7.

Falling well short of the first major resistance level at $7,539.6, Bitcoin tumbled to a mid-afternoon intraday low $7,201.3.

Bitcoin fell through the first major support level at $7,299.6 before recovering to $7,297 levels.

The first major support level pinned Bitcoin back from a return to $7,300 levels late in the day.

The near-term bearish trend, formed at late June’s swing hi $13,764.0, remained firmly intact, in spite of Bitcoin continuing to hold onto $7,000 levels.

For the bulls, Bitcoin would need to break out from $11,000 levels to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the top 10 cryptos, it was a mixed day for the majors.

Tezos bucked the trend on Monday, rising by 1.19%.

It was a bearish day for the rest of the pack, however, with Bitcoin Cash SV sliding by 3.66% to lead the way down.

Binance Coin (-1.85%), EOS (-2.37%), Ethereum (-2.39%), Litecoin (-1.88%), Ripple’s XRP (-1.78%), Tron’s TRX (-2.53%), and also saw heavy losses.

Bitcoin Cash ABC (-0.97%) and Stellar’s Lumen (-1.09%) saw relatively modest losses on the day.

Through the start of the week, the crypto total market cap hit a Monday high $198.27bn before falling to a Monday low $193.13bn. At the time of writing, the total market cap stood at $193.0bn.

Bitcoin’s dominance continued to sit at 68% levels in spite of the Monday loss. Trading volumes hit $80bn levels before easing back. At the time of writing, volumes were at $76bn levels.

This Morning

At the time of writing, Bitcoin was down by 0.16% to $7,249.0. A relatively bearish start to the day saw Bitcoin fall to an early morning low $7,215.9 before striking a high $7,276.2.

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

Elsewhere, it was a mixed start to the day, with Bitcoin Cash SV (+0.66%), EOS (+0.19%), Litecoin (+0.12%), and Ripple’s XRP (+0.04%) finding early support.

It was bearish for the rest of the pack, however, with, Tezos sliding by 1.59% to lead the way down.

Binance Coin (-0.34%), Bitcoin Cash ABC (-0.17%), Ethereum (-0.09%), Stellar’s Lumen (-0.30%), and Tron’s TRX (-0.22%) also joined Bitcoin in the red.

BTC/USD 31/12/19 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to move back through $7,295 levels to support a run at the first major resistance level at $7,387.97.

Support from the broader market would be needed, however, for Bitcoin to break back through to $7,300 levels.

Barring a broad-based crypto rally on the day, the first major resistance level and Monday’s high $7,421.7 would likely limit any upside.

Failure to move back through to $7,295 levels could see Bitcoin slide deeper into the red.

A fall through to Monday’s low $7,201.3 would bring the first major support level at $7,167.57 into play before any recovery.

Barring an extended sell-off, however, Bitcoin should steer clear of sub-$7,100 levels and the second major support level at $7,074.23.

Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 29/12/19

Crypto00 567

Binance Coin

Binance Coin rose by 2.48% in the week ending 28th December. Partially reversing a 7.44% slide from the previous week, Binance Coin ended the week at $13.65.

A relatively bullish start to the week saw Binance Coin rise to a Monday intraweek high $14.05 before hitting reverse.

Falling short of the first major resistance level at $14.58, Binance Coin tumbled to sub-$13 levels on Wednesday before finding support.

Steering clear of the first major support level at $12.07, Binance Coin recovered to $13.6 levels before sliding to a Friday intraweek low $12.84.

In spite of the pullback, Binance Coin steered clear of the first major support level to bounce back into the green on Saturday.

Binance Coin saw 5 days in the green to end a run of 5 consecutive weeks in the red. It did take a 2.8% rally on Sunday, however, to deliver the weekly gain.

For the week ahead

Binance Coin would need to move through to $14.00 levels to support a run at the first major resistance level at $14.72.

Support from the broader market would be needed for Binance Coin to break back through to $14 levels.

Barring a broad-based crypto rally, however, Binance Coin would likely fall short of $15 levels again.  The second major resistance level at $14.72 would likely cap any upside on the week.

Failure to move through to $14.00 levels could likely see Binance Coin reverse last week’s gains.

A fall back through to sub-$13.50 levels would bring the first major support level at $12.98 into play.

Barring a crypto meltdown, Binance Coin should steer clear of sub-$12 levels. The second major support level at $12.30 should limit any downside in the week.

At the time of writing, Binance Coin was down by 0.06% to $13.64. A bearish start to the day on Sunday saw Binance Coin fall from an early morning high $13.68 to a low $13.59.

BNB/USD 29/12/19 Weekly Chart

Litecoin

Litecoin rallied by 7.55% in the week ending 28th December. Partially reversing an 8.12% slide from the previous week, Litecoin ended the week at $42.73.

Another positive start to the week saw Litecoin rise to an early morning high $42.69 on Monday before hitting reverse.

Coming up short of the first major resistance level at $43.75, Litecoin fell to a Wednesday intraweek low $39.36.

Steering well clear of the first major support level at $35.79, Litecoin rallied to a Saturday intraweek high $43.65 before easing back.

The first major resistance level at $43.75 limited the upside at the end of the week.

While Litecoin saw green in just 3 of the 7 days, a 5.5% rally on Sunday and a 4.4% gain on Saturday delivered the upside in the week.

For the week ahead

Litecoin would need to move through to $43 levels to support a run at the first major resistance level at $44.45.

Support from the broader market would be needed, however, for Litecoin to break back through to $43 levels.

Barring a broad-based crypto rally in the week, last week’s high $43.65 and first major resistance level would likely cap any upside on the week.

Failure to move through to $43 levels could see Litecoin hit reverse.

A fall back through to sub-$42 levels would bring the first major support level at $40.18 into play.

Barring a crypto meltdown, however, Litecoin should steer clear of sub-$40 levels in the week.

At the time of writing, Litecoin was down by 0.3% to $42.60. A bearish start to the day saw Litecoin fall from a morning high $42.75 to a low $42.60 on Sunday.

LTC/USD 29/12/19 Weekly Chart

Tron’s TRX

Tron’s TRX slipped by 0.42% in the week ending 28th December. Following on from a 2.82% slide from the previous week, Tron’s TRX ended the week at $0.013520.

A bullish start to the week saw Tron’s TRX rally to an early Monday intraweek high $0.01600 before hitting reverse.

Tron’s TRX broke through the first major resistance level at $0.01440 and the second major resistance level at $0.01530.

The reversal saw Tron’s TRX slide to a Wednesday intraweek low $0.013043 before finding support.

Steering well clear of the first major support level at $0.01240, Tron’s TRX struck $0.01380 levels on Friday before sliding back into the deep red.

A 1.69% gain on Sunday cut the deficit for the week, however, with Tron’s TRX finding support from the broader market.

For the week ahead

Tron’s TRX would need to move back through to $0.01420 levels to support a run at the first major resistance level at $0.01530.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.0140 levels.

Barring an extended crypto rally, Tron’s TRX would likely fall short of last week’s high $0.0160.

In the event of a broad-based crypto rally, the second major resistance level at $0.0170 levels would likely cap any upside.

Failure to move through to $0.01420 levels could see Tron’s TRX spend another week in the red.

A pullback to through last week’s low $0.013043 would bring the first major support level at $0.01240 into play.

Barring a crypto meltdown, however, Tron’s TRX should steer well clear of the second major support level at $0.1120

At the time of writing, Tron’s TRX was down by 0.46% to $0.013458. A bearish start to the week saw Tron’s TRX fall from a morning high $0.013520 to a low $0.013458.

TRX/USD 29/12/19 Weekly Chart

The Crypto Daily – Movers and Shakers – 26/12/19

Crypto00 567

Bitcoin fell by 0.78% on Wednesday. Following on from a 0.96% decline on Tuesday, Bitcoin ended the day at $7,220.1.

A relatively range-bound start to the day saw Bitcoin recover from a mid-morning low $7,222.7 to a morning high $7,289.4.

Steering clear of the major resistance levels, Bitcoin slid to a late afternoon intraday low $7,113.2.

Bitcoin fell through the first major support level at $7,157.67 before striking a late afternoon intraday high $7,294.2.

Falling short of the first major resistance level at $7,420.57, Bitcoin fell back to close out the day in the red.

The near-term bearish trend, formed at late June’s swing hi $13,764.0, remained firmly intact, in spite of Bitcoin continuing to hold onto $7,000 levels.

For the bulls, Bitcoin would need to break out from $11,000 levels to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the top 10 cryptos, it was a bearish day for the majors.

Tezos slid by 5.81% to lead the way down.

Binance Coin (-2.10%), EOS (-2.36%), Ethereum (-2.12%), and Tron’s TRX (-2.22%) also saw relatively heavy losses.

Bitcoin Cash ABC (-1.18%), Bitcoin Cash SV (-0.97%), Litecoin (-0.62%), Ripple’s XRP (-1.11%), and Stellar’s Lumen (-1.17%) saw more modest losses on the day.

Through the early part of the week, the crypto total market cap hit a Monday high $200.48bn before sliding to a low $190.10bn on Wednesday. At the time of writing, the total market cap stood at $191.85bn.

Bitcoin’s dominance continued to sit at 68% levels on Wednesday. Trading volumes hit $90bn levels on Monday before easing back to sub-$70bn levels.

This Morning

At the time of writing, Bitcoin was up by 0.08% to $7,225.8. A range-bound start to the day saw Bitcoin rise from an early morning low $7,220.0 to a high $7,232.7.

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

Elsewhere, Binance Coin (+0.07%), Bitcoin Cash SV (+0.64%), EOS (+0.06%), Ripple’s XRP (+0.16%), and Tezos (+0.03%) also saw green.

Ethereum (-0.02%), Litecoin (-0.42%), Stellar’s Lumen (-0.56%), and Tron’s TRX (-0.36%) struggled, however.

BTC/USD 26/12/19 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to steer clear of sub-$7,210 levels to support a run at the first major resistance level at $7,305.13.

Support from the broader market would be needed, however, for Bitcoin to break out from Wednesday’s high $7,294.2

Barring an extended rally throughout the day, resistance at $7,300 would likely continue to cap any upside on the day.

Failure to steer clear of sub-$7,210 levels could see Bitcoin hit reverse.

A fall back through to sub-$7,200 levels would bring the first major support level at $7,124.13 into play.

Barring a broad-based sell-off, however, Bitcoin should steer clear of the second major support level at $7,028.17.

Binance Coin Mid-Week Analysis – Support Levels in Play – 25/12/19

Coins of crypto currency are presented on a dark background. Virtual money concept.

Binance Coin Price Support

It was a mixed first half of the week for Binance Coin.

A bullish start to the week saw Binance Coin rally to a Monday current week high $14.05 before hitting reverse.

Falling short of the week’s first major resistance level at $14.58, Binance Coin slid to a Monday current week low $13.14.

In spite of a 3.6% slide on Monday, Binance Coin steered clear of the first major support level at $12.07.

Range-bound on Tuesday, Binance Coin rose by 0.23% on the day to reverse losses from the start of the week.

For the current week, Sunday through Tuesday, Binance Coin was up by 0.08% to $13.33.

The near-term bearish trend remained intact, supported by the current week loss and new swing lo. Binance Coin had continued to struggle at the 23.6% FIB of $21 ahead of the extended crypto sell-off.

For the bulls, Binance Coin would need to break through the 62% FIB of $30 to form a near-term bullish trend.

At the time of writing, Binance Coin was down by 0.91% to $13.21. A bearish start to the day on Wednesday saw Binance Coin fall from an early morning high $13.40 to a morning low $13.17.

In spite of the early moves, Binance Coin continued to leave the major support and resistance levels untested.

BNB/USD 25/12/19 Daily Chart

For the remainder of the week

Binance Coin would need to move back through to $13.35 levels to bring the first major resistance level at $14.59 into play

Support from the broader market would be needed, however, for Binance Coin to break out from the current week high $14.05.

Barring a broad-based crypto rebound, the first major resistance level at $14.58 would likely pin Binance Coin back in the week.

Failure to move through to 13.35 levels could see Binance Coin slide back into the red.

A pullback through the current week low $13.14 would bring the first major support level at $12.07 into play

Barring a crypto meltdown support at $12 levels should limit the downside in the 2nd half of the week.

Looking at the Technical Indicators

Major Support Level: $12.07

Major Resistance Level: $14.58

23.6% FIB Retracement Level: $18.8

38.2% FIB Retracement Level: $22.9

62% FIB Retracement Level: $29.5

The Crypto Daily – Movers and Shakers -24/12/19

cryptocurrency Silver and gold Bitcoin,litecoin,ethereum on dollar banknote on golden table,Virtual Digital money on blockchain concept.financial business.crypto currency mining.

Bitcoin slid by 2.5% on Monday. Partially reversing a 5.14% rally from Sunday, Bitcoin ended the day at $7,347.4.

A mixed start to the day saw Bitcoin fall from an early morning high $7,681.0 to a mid-morning low $7,485.0.

Bitcoin broke through the first major resistance level at $7,662.2, whilst steering clear of the major support levels.

Finding support through the early afternoon, Bitcoin rallied to a mid-afternoon intraday high $7,715.1 before hitting reverse.

Bitcoin broke back through the first major resistance level before sliding to a late intraday low $7,282.4.

Finding support at the first major support level at $7,287.2, Bitcoin moved back to $7,300 levels to limit the loss on the day.

The near-term bearish trend, formed at late June’s swing hi $13,764.0, remained firmly intact, in spite of Bitcoin’s hold onto $7,000 levels.

For the bulls, Bitcoin would need to break out from $11,000 levels to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the top 10 cryptos, it was a mixed day for the majors.

Tezos bucked the trend on the day once more, rising by 3.10%.

It was a bearish session for the rest of the pack, with Tron’s TRX sliding by 8.63% to lead the way down.

Binance Coin (-3.84%), Bitcoin Cash ABC (-4.25%), Ethereum (-3.49%), Litecoin (-3.13%), Ripple’s XRP (-3.45%), and Stellar’s Lumen (-5.32%) also saw heavy losses.

Bitcoin Cash SV (-2.53%) and EOS (-0.97%) saw relatively modest losses on the day.

Through the start of the week, the crypto total market cap hit a Monday high $200.48bn before sliding to a day low $192.87bn. At the time of writing, the total market cap stood at $192.80bn.

Bitcoin’s dominance held onto 68% levels on Monday. Trading volumes hit $90bn levels before easing back in what was a choppy day for the majors.

This Morning

At the time of writing, Bitcoin was down by 0.17% to $7,335.2. A range-bound start to the day saw Bitcoin fall from an early morning high $7,347.4 to a low $7,315.5 before finding support.

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

Elsewhere, it was a mixed start to the day for the majors. Ripple’s XRP (+0.77%) and Binance Coin (+0.27%) led the way up, while Tron’s TRX (-0.99%) and Tezos (-0.78%) led the way down.

It was flat for the rest of the pack through the early morning.

BTC/USD 24/12/19 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through to $7,450 levels to support a run at the first major resistance level at $7,614.2.

Support from the broader market would be needed, however, for Bitcoin to break through to $7,400 levels.

Barring an extended rally throughout the day, resistance at $7,500 would likely cap any upside on the day.

Failure to move through to $7,450 levels could see Bitcoin fall deeper into the red.

A fall back through the morning low $7,315.5 would bring the first major support level at $7,181.5 into play.

Barring a broad-based sell-off, however, Bitcoin should steer clear of the second major support level at $7,015.60.

Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 22/12/19

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

Binance Coin

Binance Coin fell by 7.44% in the week ending 21st December. Following on from an 8.18% slide from the previous week, Binance Coin ended the week at $13.31.

A relatively bullish start to the week saw Binance Coin rise to an early Sunday intraweek high $14.62.

Falling well short of the first major resistance level at $15.49, Binance Coin tumbled to a late Tuesday intraweek low and new swing lo $12.11.

A 6.6% loss on Monday and 8.1% slide on Tuesday saw Binance Coin visit sub-$13 levels for the 1st time since March.

3 consecutive days in the red also saw Binance Coin fall through the first major support level at $13.71 and second major support level at $13.06.

A rebound on Wednesday saw Binance Coin rally by 10.5% to revisit $14 levels before easing back to sub-$14 levels.

For the week ahead

Binance Coin would need to move through to $13.50 levels to support a run at the first major resistance level at $14.58.

Support from the broader market would be needed for Binance Coin to break back through to $14 levels.

Barring a broad-based crypto rally, however, Binance Coin would likely fall well short of $16 levels again.  The second major resistance level at $15.86 would likely cap any upside on the week.

Failure to move through to $13.50 levels could likely see Binance Coin spend a 6th consecutive week in the red.

A fall back through to sub-$13 levels would bring the first major support level at $12.07 into play.

Barring another crypto meltdown, Binance Coin should steer clear of sub-$12 and the second major support level at $10.84.

At the time of writing, Binance Coin was up by 0.41% to $13.37. A mixed start to the day on Sunday saw Binance Coin fall to a morning low $13.27 before striking a high $13.41.

BNB/USD 22/12/19 Weekly Chart

Litecoin

Litecoin slid by 8.12% in the week ending 21st December. Following on from a 4.36% decline from the previous week, Litecoin ended the week at $39.73

A positive start to the week saw Litecoin rise to an intraweek high $44.04 on Sunday before hitting reverse.

Following a 0.39% gain on Sunday, Litecoin slid by 8.1% on Monday and by 7.3% on Tuesday to a Wednesday intraweek low and new swing lo $35.88.

Steering clear of the major resistance levels, Litecoin fell through the major support levels before finding support on Wednesday.

A broad-based crypto rally saw Litecoin bounce back to $41 levels with a 10.7% gain on the day.

The upside was short-lived, however, with Litecoin easing back to sub-$40 and into the deep red.

The pullback saw Litecoin fall back through the first major support level at $41.85 and second major support level at $40.47.

For the week ahead

Litecoin would need to move through to $40 levels to support a run at the first major resistance level at $43.75.

Support from the broader market would be needed, however, for Litecoin to break back through to $43 levels.

Barring a broad-based crypto rally in the week, last week’s high $43.84 and first major resistance level would likely cap any upside on the week.

Failure to move through to $40 levels could see Litecoin spend another week in the red.

A fall back through to sub-$38 levels would bring the first major support level at $35.79 into play.

Barring a crypto meltdown, however, Litecoin should steer clear of sub-$36 levels in the week.

At the time of writing, Litecoin was up by just 0.08% to $39.76. Early on Sunday, Litecoin fell to an early low $39.69 before striking a high $39.81.

LTC/USD 22/12/19 Weekly Chart

Tron’s TRX

Tron’s TRX fell by 2.82% in the week ending 21st December. Following on from a 7.72% tumble from the previous week, Tron’s TRX ended the week at $0.013488.

A bullish start to the week saw Tron’s TRX rise to a Sunday intraweek high $0.014214 before hitting reverse.

Falling well short of the first major resistance level at $0.01430, Tron’s TRX slid to a Wednesday intraweek low $0.012160.

The reversal saw Tron’s TRX slide through the first major support level at $0.01290 and the second major support level at $0.01230.

Finding support in the 2nd half of the week, 2 days in the green out of 3 saw Tron’s TRX move back to $0.01340 levels to limit the loss for the week.

Early in the week, a 4% fall on Monday and a 7.05% slide on Tuesday did the damage. A 7.47% bounce back on Wednesday., did limit the downside, however.

For the week ahead

Tron’s TRX would need to avoid a return to $0.0133 levels to support a run at the first major resistance level at $0.01440

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.0140 levels.

Barring an extended crypto rally, Tron’s TRX would likely fall short of $0.0160 levels in the week. The second major resistance level at $0.01530 would likely limit any upside.

Failure to steer clear of $0.0138 levels could see Tron’s TRX see another heavy weekly loss.

A pullback to through last week’s low $0.01330 levels would bring the first major support level at $0.01240 into play.

Barring a crypto meltdown, however, Tron’s TRX should steer well clear of the second major support level at $0.1120

At the time of writing, Tron’s TRX was up by 3.08% to $0.013903. A bullish start to the day saw Tron’s TRX rally from an early morning low $0.013572 to a high $0.013903.

TRX/USD 22/12/19 Weekly Chart

The Crypto Daily – Movers and Shakers -19/12/19

Crypto00 567

Bitcoin rallied by 9.89% on Wednesday. Reversing a 3.75% slide from Tuesday, Bitcoin ended the day at $7,326.2.

A mixed start to the day saw Bitcoin fall from an early morning high $6,756.8 to an early afternoon intraday low and new swing lo $6,477.0.

Bitcoin fell through the first major support level at $6,534.07 before rebounding to a late intraday high $7,482.2.

Bitcoin broke through the major resistance levels before easing back through the third major resistance level at $7,457.03.

The near-term bearish trend, formed at late June’s swing hi $13,764.0, remained firmly intact, in spite of Bitcoin’s return to $7,000 levels.

For the bulls, Bitcoin would need to break out from $11,000 levels to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the top 10 cryptos, it was also a particularly bullish day for the majors.

EOS, Binance Coin, and Litecoin led the way, surging by 11.71%, 10.36% and by 10.28% respectively.

Bitcoin Cash ABC (+6.29%), Bitcoin Cash SV (+7.35%), Ethereum (+9.07%), Ripple’s XRP (+6.98%), Stellar’s Lumen (+7.85%) and Tron’s TRX (+7.33%) also saw solid gains.

Tezos trailed the pack on the day, with a more modest 2.53% gain.

Through the start of the week, the crypto total market cap rose to a Monday high $195.00bn before sliding to a low $175.14bn on Wednesday. At the time of writing, the total market cap stood at $192.36bn.

Bitcoin’s dominance held onto 68% levels on Wednesday, supported by the solid gain on the day. Trading volumes were also on the rise, with volumes hitting $100bn levels as sidelined investors returned.

This Morning

At the time of writing, Bitcoin was down by 1.61% to $7,208.4. A mixed start to the day saw Bitcoin rise to an early morning high $7,417.1 before sliding to a low $7,174.1.

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

Elsewhere, it was a sea of red across the crypto board.

Binance Coin (-2.78%), Ethereum (-3.02%), and Ripple’s XRP (-2.80%) led the way down.

EOS (-1.00%) and Tezos (-0.25%) saw relatively modest losses in the early part of the day.

BTC/USD 19/12/19 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to steer clear of sub-$7,100 levels support a run at the first major resistance level at $7,713.27.

Support from the broader market would be needed, however, for Bitcoin to break out from $7,400 levels.

Barring a broad-based crypto rebound, resistance at $7,500 would likely pin Bitcoin back for a 2nd consecutive day.

Failure to steer clear of sub-$7,100 levels could see Bitcoin eat into Wednesday’s gain.

A fall through to sub-$7,090 levels would bring the first major support level at $6,708.07 into play.

Barring an extended sell-off through the day, however, Bitcoin should steer clear of sub-$6,700 levels.

Binance Coin Mid-Week Analysis – Support Levels in Play – 18/12/19

Apple iPhone and Binance logo, with dollars and cryptocurrency.

Binance Coin Price Support

It’s been yet another bearish start to the week for Binance Coin.

A mixed start to the week saw Binance Coin rise to a Sunday current week high $14.71 before hitting reverse.

Falling well short of the first major resistance level at $15.49, Binance Coin tumbled to a Tuesday current week low and new swing lo $12.11.

On a first visit to sub-$13 levels since March, Binance Coin fell through the first major support level at $13.71 and second major support level at $13.06.

The slide came off the back of a 6.59% slide on Monday and an 8.04% tumble on Tuesday. A 0.1% gain on Sunday did very little to spur demand.

Through the 2nd half of the day on Tuesday, Binance Coin had managed to move back through the second major support level before succumbing to. Market forces.

For the current week, Sunday through Tuesday, Binance Coin was down by 14.12% to $12.35

The near-term bearish trend remained intact, supported by the current week loss and new swing lo. Binance Coin had continued to struggle at the 23.6% FIB of $21 ahead of the extended crypto sell-off.

For the bulls, Binance coin would need to break through the 62% FIB of $30 to form a near-term bullish trend.

At the time of writing, Binance Coin was up by 2.33% to $12.63. A bullish start to the day on Wednesday saw Binance Coin rise from an early morning low $12.24 to a morning high $12.71.

In spite of the early rally, Binance Coin failed to break back through the second major support level at $13.06.

BNB/USD 18/12/19 Daily Chart

For the remainder of the week

Binance Coin would need to break back through the first major support level at $13.71 to bring the first major resistance level at $15.49 into play

Support from the broader market would be needed, however, for Binance Coin to break out from $14 levels.

Barring a broad-based crypto rebound, the first major support level at $13.71 would likely pin Binance Coin back in the week.

Failure to move through the first major support level could see Binance Coin slide deeper into the red.

A pullback through the current week low $12.11 would bring the third major support level at $11.28 into play.

Barring a crypto meltdown, however, support at $12 levels should limit the downside in the week.

Looking at the Technical Indicators

Major Support Level: $13.71

Major Resistance Level: $15.49

23.6% FIB Retracement Level: $18.8

38.2% FIB Retracement Level: $22.9

62% FIB Retracement Level: $29.5

The Crypto Daily – Movers and Shakers -17/12/19

Cryptomania

Bitcoin slid by 3.16% on Monday. Following on from last week’s 5.45% decline, Bitcoin ended the day at $6,926.6.

A mixed start to the day saw Bitcoin fall to a late morning low $7,087.0 before striking an early afternoon intraday high $7,196.0.

Falling short of the first major resistance level at $7,237.03, Bitcoin tumbled to a late intraday low $6,900.0.

Bitcoin fell through the first major support level at $7,056.13 and the second major support level at $6,959.57.

While finding support late on, Bitcoin failed to break back through the second major support level.

Bitcoin last ended the day at sub-$7,000 levels back on 24th November.

The near-term bearish trend, formed at late June’s swing hi $13,764.0, remained firmly intact, with Bitcoin back at sub-$7,000 levels.

For the bulls, Bitcoin would need to break out from $11,000 levels to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the top 10 cryptos, it was also a bearish day for the majors.

Litecoin led the way down on Monday, sliding by 8.13%, with EOS (-7.48%), Ethereum (-7.04%), and Stellar’s Lumen (-7.22%) close behind.

Binance Coin (-6.54%), Bitcoin Cash ABC (-5.53%), Bitcoin Cash SV (-4.32%), and Ripple’s XRP (-5.33%) also saw relatively heavy losses.

Tezos saw a more modest 0.39% loss on the day.

Through Monday, the crypto total market cap rose to a high $195.00bn before sliding to a low $186.98bn. At the time of writing, the total market cap stood at $187.06bn.

Bitcoin’s dominance recovered to 67% levels on the day, with Bitcoin seeing modest losses relative to the rest of the majors. Trading volumes were also on the rise, with volumes up from sub-$60bn levels to $70bn levels.

This Morning

At the time of writing, Bitcoin was down by 0.24% to $6,909.9. A mixed start to the day saw Bitcoin rise to an early morning high $6,947.2 before falling to a low $6,904.0.

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

Elsewhere, the top 10 newcomer Tezos bucked the trend early on, rallying by 4.02%.

It was bearish for the rest of the pack, however.

Ripple’s XRP led the way down, sliding by 4.55%. Stellar’s Lumen and Binance Coin were also deep in the red, with losses of 2.72% and 2.44% respectively.

Bitcoin Cash SV (-0.82%), EOS (-1.37%), Ethereum (-0.81%), Litecoin (-0.88%), and Tron’s TRX (-0.86%) also struggled.

Bitcoin Cash ABC saw a relatively modest 0.3% loss early on in the day.

BTC/USD 17/12/19 Daily Chart

For the Bitcoin Day Ahead

A move back through to $7,000 levels would support a run at the first major resistance level at $7,115.07.

Support from the broader market would be needed, however, for Bitcoin to break out from $7,000 levels.

Barring a broad-based crypto rally, the first major resistance level at $7,115.07 would likely limit any upside on the day.

Failure to move back through to $7,000 levels could see Bitcoin struggle on the day.

A fall back through the morning low $6,904.0 would bring the first major support level at $6,819.07 into play.

Barring another crypto meltdown, however, Bitcoin should continue to steer clear of sub-$6,800 levels.

Altcoins Weekly Analysis – Binance Coin, Ripple’s XRP and Tron’s TRX – 15/12/19

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Binance Coin

Binance Coin slid by 8.18% in the week ending 14th December. Following on from a 0.57% decline from the previous week, Binance Coin ended the week at $14.37.

It was a choppy and bearish start to the week for Binance Coin.

Off the back of a 0.08% fall on Sunday, Binance Coin rose to a Monday afternoon intraweek high $15.96 before hitting reverse.

Binance Coin fell well short of the first major resistance level at $16.46 at the start of the week

The reversal saw Binance Coin fall in 6 out of 7 days, leading to a Saturday intraweek low $14.18.

Binance Coin fell through the first major support level at $14.79.

In spite of support kicking in late on Saturday, Binance Coin failed to break back through the first major support level at $14.79.

For the week ahead

Binance Coin would need to move through to $14.90 levels to support a run at the first major resistance level at $15.49.

Support from the broader market would be needed for Binance Coin to break back through to $15 levels.

Barring a broad-based crypto rally, however, Binance Coin would likely fall well short of $16 levels again.  Last week’s high $15.96 and the first major resistance level at $15.49 would likely cap any upside.

Failure to move through to $14.90 levels could likely see Binance Coin spend a 5th consecutive week in the red.

A fall back through last week’s low $14.18 would bring the first major support level at $13.71 into play.

Barring another crypto meltdown, Binance Coin should steer clear of the second major support level at $13.06.

At the time of writing, Binance Coin was down by 1.02% to $14.22.

BNB/USD 15/12/19 Weekly Chart

Ripple’s XRP

Ripple’s XRP slid by 5.08% in the week ending 14th November. Reversing a 0.94% gain from the previous week, Ripple’s XRP ended the week at $0.21728.

A bullish start to the week saw Ripple’s XRP strike a Sunday intraweek high $0.23387 before hitting reverse.

Falling short of the first major resistance level at $0.2359, Ripple’s XRP reversed Sunday’s 0.95% gain with interest.

Five days in the red out of 6 saw Ripple’s XRP slide to a Saturday intraweek low $0.21550.

Ripple’s XRP fell through the first major support level at $0.2165 before finding late support at the end of the week.

While breaking back through the first major support level, Ripple’s XRP ended the week at sub-$0.22 levels for the 1st time this year.

For the week ahead

Ripple’s XRP would need to move through to $0.2185 levels to support a run at the first major resistance level at $0.2208.

Support from the broader market would be needed, however, for Ripple’s XRP to break back through to $0.22 levels.

Barring a broad-based crypto rally in the week, last week’s high $0.22163 and first major resistance level would likely cap any upside on the week.

Failure to move through to $0.2185 levels could see Ripple’s XRP spend another week in the red.

A fall back through to last week’s low $0.2155 would bring the first major support level at $0.2146 into play.

Barring a crypto meltdown, however, Ripple’s XRP should steer clear of sub-$0.21 levels. The second major support level at $0.2120 should limit any downside in the week.

At the time of writing, Ripple’s XRP was down by 0.05% to $0.21717.

XRP/USD 15/12/19 Weekly Chart

Tron’s TRX

Tron’s TRX tumbled by 7.72% in the week ending 14th December. Following on from a 2.76% slide from the previous week, Tron’s TRX ended the week at $0.013382.

A bullish start to the week saw Tron’s TRX rise to a Monday intraweek high $0.01480 before hitting reverse.

Falling well short of the first major resistance level at $0.01580, Tron’s TRX slid to a Thursday intraweek low $0.013316 before finding support.

3 days in the red out of 5, which included a 2.6% fall on Thursday pulled Tron’s TRX through the first major support level at $0.01380.

Steering clear of sub-$0.0130 levels, Tron’s TRX bounced back to $0.01470 levels on Saturday before sliding back to sub-$0.0140 levels.

In spite of the pullback, the first major support level at $0.01380 limited the downside in the week.

For the week ahead

Tron’s TRX would need to avoid a return to $0.0138 levels to support a run at the first major resistance level at $0.01430

Support from the broader market would be needed, however, for Tron’s TRX to break out form $0.0140 levels.

Barring an extended crypto rally, Tron’s TRX would likely fall short of $0.0160 levels in the week. The second major resistance level at $0.01580 would likely limit any upside.

Failure to steer clear of $0.0138 levels could see Tron’s TRX take another hit in the week.

A pullback to through the low of $0.013316 from last week would bring the first major support level at $0.01290 into play before any recovery.

Barring a crypto meltdown, however, support at $0.0130 should limit the downside on the day.

At the time of writing, Tron’s TRX was up by 1.28% to $0.014060.

TRX/USD 15/12/19 Weekly Chart