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

Bitcoin, BTC to USD, fell by 2.31% on Monday. Following a 0.13% decline on Sunday, Bitcoin ended the day at $45,937.0.

A bullish start to the day saw Bitcoin rise to an early morning intraday high $48,069.0 before hitting reverse.

Bitcoin broke through the first major resistance level at $47,770 before sliding to a late intraday low $45,689.0.

Bitcoin fell through the first major support level at $45,872 before briefly revisiting $46,000 levels.

A bearish end to the day, however, saw Bitcoin briefly fall back through the first major support level before ending the day at $45,900 levels.

The near-term bullish trend remained intact, supported by the latest return to $48,000 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.

Polkadot rallied by 7.96% to lead the way, with Binance Coin (+0.34%), Chainlink (+0.24%) and Crypto.com Coin (+0.81%) also bucking the trend.

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

Ripple’s XRP slid by 7.84% to lead the way down.

Cardano’s ADA (-4.44%), Ethereum (-4.97%), and Litecoin (-3.69%) also saw relatively heavy losses.

Bitcoin Cash SV (-1.54%) had minor losses on the day, however.

Early in the week, the crypto total market rose to a Monday high $2,024bn before falling to a Monday low $1,929bn. At the time of writing, the total market cap stood at $1,917bn.

Bitcoin’s dominance fell to a Monday low 44.04% before rising to a Monday high 44.50%. At the time of writing, Bitcoin’s dominance stood at 44.58%.

This Morning

At the time of writing, Bitcoin was down by 1.06% to $45,451.0. A mixed start to the day saw Bitcoin rise to an early morning high $46,079.0 before falling to a low $45,291.0.

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, Ripple’s XRP was down by 3.54% to lead the way down.

BTCUSD 170821 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the $46,565 pivot to bring the first major resistance level at $47,441 into play.

Support from the broader market would be needed for Bitcoin to break back through to $47,000 levels.

Barring a broad-based crypto rally, the first major resistance level and Monday’s high $48,069 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $49,000 levels before any pullback. The second major resistance level sits at $48,945.

Failure to move through the $46,565 pivot would bring the first major support level at $45,061 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of the second major support level at $44,185.

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