The Crypto Daily – Movers and Shakers – April 1st, 2021

Bitcoin, BTC to USD, slipped by 0.07% on Wednesday. Following a 2.02% gain on Tuesday, Bitcoin ended the month up by 29.84% to $58,796.0.

A mixed start to the day saw Bitcoin rise to a mid-morning intraday high $59,899.0 before hitting reverse.

Bitcoin broke through the first major resistance level at $59,864 before sliding to a late morning intraday low $56,826.0.

The reversal saw Bitcoin fall through the first major support level at $57,476.

Steering clear of the second major support level at $56,111, Bitcoin revisited $59,600 levels before falling back into the red.

The near-term bullish trend remained intact supported by the March gain. For the bears, Bitcoin would need to slide through the 62% FIB of $26,041 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.

Binance Coin  (-2.79%), Cardano’s ADA (-1.61%), and Crypto.com Coin (-2.51%) joined Bitcoin in the red.

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

Polkadot rallied by 9.19% to lead the way, with Bitcoin Cash SV (+4.84%), Chainlink (+5.66%), and Ethereum (+4.29%) also making solid gains.

Litecoin (+0.58%) and Ripple’s XRP (+1.14%) saw modest gains on the day, however.

In the current week, the crypto total market fell to a Monday low $1,671bn before rising to a Wednesday high $1,872bn. At the time of writing, the total market cap stood at $1,812bn.

Bitcoin’s dominance rose to a Wednesday high 61.34% before falling to a Wednesday low 59.65%. At the time of writing, Bitcoin’s dominance stood at 60.73%.

This Morning

At the time of writing, Bitcoin was up by 0.37% to $59,014.0. A mixed start to the day saw Bitcoin fall to an early morning low $58,759.0 before rising to a high $59,047.0.

Elsewhere, it was another mixed start to the day.

Binance Coin (-0.08%), Cardano’s ADA (-0.22%), and Polkadot (-3.11%) bucked the trend early on.

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

At the time of writing, Bitcoin Cash SV was up by 3.62% to lead the way.

BTCUSD 010421 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $58,507 to bring the first major resistance level at $60,188 into play.

Support from the broader market would be needed for Bitcoin to break out from Wednesday’s high $59,899.0.

Barring an extended crypto rally, the first major resistance level and resistance at $60,000 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at 14th March swing hi $61,699.0 before easing back. The second major resistance level sits at $61,580.

Failure to avoid a fall through the $58,507 pivot would bring the first major support level at $57,115 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$56,000 levels. The second major support level sits at $55,434.

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