The Crypto Daily – Movers and Shakers – September 10th, 2020

Bitcoin, BTC to USD, rose by 0.89% on Wednesday. Partially reversing a 2.42% slide from Tuesday, Bitcoin ended the day at $10,240.0.

It was a mixed start to the day. Bitcoin fell to an early morning intraday low $10,010.0 before making a move.

Steering clear of the first major support level at $9,866, Bitcoin rallied to a late intraday high $10,359.

Falling short of the first major resistance level at $10,447, Bitcoin fell back to sub-$10,200 levels before wrapping up the day at $10,240.0.

The near-term bullish trend remained intact, in spite of the latest pullback to sub-$10,000. For the bears, Bitcoin would need to slide through the 62% FIB of $6,400 to form a near-term bearish trend.

The Rest of the Pack

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

Bitcoin Cash SV (-4.96%), EOS (-0.50%), and Tron’s TRX (-3.31%) saw red to buck the trend on the day.

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

Binance Coin (+5.41%) and Ethereum (+4.04%) led the way.

Bitcoin Cash ABC (+1.33%), Cardano’s ADA (+2.66%), Litecoin (+0.82%), Monero’s XMR (+0.10%), Ripple’s XRP (+1.11%), Stellar’s Lumen (+1.12%), and Tezos (+1.26%) trailed the front runners.

In the current week, the crypto total market rose to a Monday high $320.12bn before falling to a Tuesday low $297.87bn. At the time of writing, the total market cap stood at $316.08bn.

Bitcoin’s dominance rose to a Monday high 61.28% before falling to a Wednesday low 59.99%. At the time of writing, Bitcoin’s dominance stood at 60.18%.

This Morning

At the time of writing, Bitcoin was up by 0.62% to $10,303.0. A mixed start to the day saw Bitcoin fall to an early morning low $10,233.1 before rising to a high $10,337.0.

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

Elsewhere, it was a bullish start to the day.

At the time of writing, Tezos was up by 2.81% to lead the way.

BTC/USD 10/09/20 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the $10,203 pivot level to support a run at the first major resistance level at $10,396.

Support from the broader market would be needed, however, for Bitcoin to break out from Wednesday’s high $10,359.0

Barring an extended crypto rally, the first major resistance level and resistance at $10,400 would likely cap any upside.

In the event of a crypto breakout, Bitcoin could test resistance at $10,500 before any pullback. The second major resistance level sits at $10,552.

Failure to avoid a fall through the $10,203 pivot would bring the first major support level at $10,047 into play.

Barring another extended crypto sell-off, however, Bitcoin should steer clear of sub-$10,000 and the second major support level at $9,854.

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