The Crypto Daily – Movers and Shakers -28/05/20

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Bitcoin rallied by 4.12% on Wednesday. Reversing a 0.62% fall from Tuesday, Bitcoin ended the day at $9,210.3.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $8,822.2 before making a move.

Steering clear of the first major support level at $8,695.83, Bitcoin rallied to a mid-afternoon intraday high $9,225.0.

Bitcoin broke through the first major resistance level at $9,004.23 and second major resistance level at $9,162.97 before pulling back.

A late pullback saw Bitcoin fall through the second major resistance level to sub-$9,100 levels before finding support. The late support led to a move back through the second major resistance level to wrap up the day at $9,200 levels.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from the 62% FIB of $10,034 to form a near-term bullish trend.

The Rest of the Pack

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

Bitcoin Cash SV rallied by 4.50% to lead the way.

Ethereum (+3.75%), Litecoin (+3.79%), Monero’s XMR (+3.79%) were close behind.

Cardano’s ADA (+2.86%), EOS (+2.49%), and Ripple’s XRP (2.19%) and also found strong support.

Binance Coin (+1.73%), Bitcoin Cash ABC (+1.53%), Stellar’s Lumen (+1.59%), Tezos (+0.55%), and Tron’s TRX (+0.58%) saw modest gains.

In the current week, the crypto total market cap fell to an early Monday low $238.04bn before rising to a Wednesday high $252.95bn. At the time of writing, the total market cap stood at $251.86bn.

Bitcoin’s dominance fell to a Monday low 66.38% before rising to a Wednesday high 67.09%. At the time of writing, Bitcoin’s dominance stood at 67.04%.

This Morning

At the time of writing, Bitcoin was down by 0.29% to $9,183.7. A bearish start to the day saw Bitcoin fall from an early morning high $9,219.7 to a low $9,169.9.

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

Elsewhere, it was a mixed start to the day.

Monero’s XMR avoided the red, with a gain of 0.12%.

It was red the rest of the majors, however, with Ethereum down by 0.38%, at the time of writing, to lead the way down.

BTC/USD 28/05/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid sub-$9,090 levels to bring the first major resistance level at $9,349.47 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from the Wednesday’s high $9,225.0.

Barring an extended crypto rally, the first major resistance level would likely limit any upside.

In the event of another extended crypto rally, the second major resistance level at $9,488.43 and $9,500 levels would likely come into play.

Failure to avoid sub-$9,090 levels could see Bitcoin fall deeper into the red.

A fall back through to sub-$9,090 levels would bring the first major support level at $8,946.67 into play.

Barring another extended crypto sell-off, however, Bitcoin should steer well clear of the second major support level at $8,683.03.

The Crypto Daily – Movers and Shakers -26/05/20

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Bitcoin rose by 2.20% on Monday. Partially reversing a 5.08% slide from Sunday, Bitcoin ended the day at $8,902.0.

A bearish start to the day saw Bitcoin fall to an early morning intraday low $8,620.0 before making a move.

Steering clear of the first major support level at $8,498.73, Bitcoin rose to an early evening intraday high $8,963.7.

Falling short of the first major resistance level at $9,110.73, Bitcoin briefly eased back to test support at $8,900 late in the day.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from the 62% FIB of $10,034 to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the majors, it was also a mixed start to the week on Monday.

Cardan’s ADA and Bitcoin Cash ABC rallied by 5.19% and by 4.05% respectively to lead the way.

Binance Coin (+2.63%), Ethereum (+2.22%), Litecoin (+2.09%), Stellar’s Lumen (+3.26%), Tezos (+3.54%), and Tron’s TRX (+3.83%) also found strong support.

While EOS (+1.50%), Monero’s XMR (+1.65%), and Ripple’s XRP (+1.90%) saw more modest gains, Bitcoin Cash SV fell by 0.47% to buck the trend.

At the start of the week, the crypto total market cap fell to an early Monday low $238.04bn before rising to a high $247.57bn. At the time of writing, the total market cap stood at $245.04bn.

Bitcoin’s dominance fell to a Monday low 66.38% before rising to a high 66.72%. At the time of writing, Bitcoin’s dominance stood at 66.54%.

This Morning

At the time of writing, Bitcoin was down by 0.28 to $8,877.1. A mixed start to the day saw Bitcoin rise to an early morning high $8,925.2 before falling to a low $8,830.0.

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

Elsewhere, it was a mixed start to the day.

EOS (+0.02%), Ethereum (+0.01%), Monero’s XMR (+0.15%), and Tezos (+0.74%) avoided the red early on.

It was a bearish start for the rest of the majors, however, with Tron’s TRX falling by 1.01% to lead the way down.

BTC/USD 26/05/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through to $8,900 levels to bring the first major resistance level at $9,037.13 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from Monday’s high $8,963.7.

Barring an extended crypto rally, the first major resistance level would likely limit any upside.

In the event of an extended crypto rally, the second major resistance level at $9,172.27 would likely come into play.

Failure to move back through to $8,900 levels could see Bitcoin fall deeper into the red.

A fall back through the morning $8,830 would bring the first major support level at $8,693.43 into play.

Barring another extended crypto sell-off, however, Bitcoin should steer clear of the second major support level at $8,484.87.

The Crypto Daily – Movers and Shakers -21/05/20

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

Bitcoin slid by 2.74% on Wednesday. Reversing a 0.56% gain from Tuesday, Bitcoin ended the day at $9,502.0.

A mixed start to the day saw Bitcoin rise to a mid-morning intraday high $9,842.7 before hitting reverse.

Falling short of the first major resistance level at $9,945.67, Bitcoin slid to a mid-afternoon intraday low $9,301.0.

The reversal saw Bitcoin slide through the first major support level at $9,525.47 before finding support.

Late in the day, Bitcoin broke back through the first major support level to $9,590 levels before sliding back.

The pullback saw Bitcoin fall back through the first major support level to end the day in the deep red.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from the 62% FIB of $10,034 to form a near-term bullish trend.

The Rest of the Pack

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

Stellar’s Lumen (+1.59%), Bitcoin Cash SV (+0.89%) and Cardano’s ADA (+0.19%) bucked the trend on the day.

It was a bearish day for the rest, however, with Monero’s XMR sliding by 3.51% to lead the way down.

Binance Coin (-1.74%), Bitcoin Cash ABC (-2.69%), Litecoin (-3.41%), Ripple’s XRP (-1.67%), and Tron’s TRX (-3.36%) weren’t far behind.

Tezos saw a more modest 0.44S% loss on the day.

In the current week, the crypto total market cap rose to a Monday high $268.43bn before falling to a Wednesday low $248.75bn. At the time of writing, the total market cap stood at $258.04bn.

Bitcoin’s dominance rose to a Monday high 68.31% before falling to a Wednesday low 67.25%. At the time of writing, Bitcoin’s dominance stood at 67.64%.

This Morning

At the time of writing, Bitcoin was up by 0.06% to $9,507.6. A mixed start to the day saw Bitcoin rise to an early morning high $9,564.1 before falling to a low $9,420.0.

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

Elsewhere, it was also a mixed start to the day.

Cardano’s ADA (-1.50%) and Stellar’s Lumen (-1.72%) saw heavy losses early on.

Binance Coin (-0.39%), Ethereum (-0.11%), Litecoin (-0.27%), Monero’s XRM (-0.05%), Tezos (-0.76%), and Tron’s TRX (-0.22%) also saw red.

Bitcoin Cash ABC (+0.10%), Bitcoin Cash SV (+0.90%), EOS (+0.03%), and Ripple’s XRP (-0.05%) found early support.

BTC/USD 21/05/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to move back through to $9,550 levels to bring the first major resistance level at $9,796.13 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $9,564.1.

Barring an extended crypto rally, the first major resistance level would likely limit any upside.

In the event of an extended crypto rally, the 62% FIB of $10,034 and the second major resistance level at $10,090.27 would likely come into play.

Failure to move back through to $9,550 levels could see Bitcoin fall back into the red.

A fall back through to sub-$9,500 levels would bring the first major support level at $9,254.43 into play.

Barring an eextended crypto sell-off, however, Bitcoin should steer clear of the second major support level at $9,006.87.

The Crypto Daily – Movers and Shakers -19/05/20

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

Bitcoin rose by 0.48% on Monday. Following on from a 3.01% rally on Sunday, Bitcoin ended the day at $9,714.8.

It was a particularly bullish start to the day. Bitcoin rallied from an early morning low $9,329.7 to an early morning intraday high $9,944.0 before hitting reverse.

Bitcoin broke through the first major resistance level at $9,924.57 before sliding to a late morning intraday low $9,450.0.

Steering clear of the first major support level at $9,370.77, Bitcoin found support in the 2nd half of the day.

The recovery saw Bitcoin strike an afternoon high $9,731.7 before easing back.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from the 62% FIB of $10,034 to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the majors, it was a bullish start to the week.

Bitcoin Cash SV (+6.93%), Cardano’s ADA (+6.02%), and Tezos (+4.88%) led the way.

Binance Coin (+2.09%), Bitcoin Cash ABC (+2.44%), Ethereum (+3.76%), Litecoin (+3.73%), Monero’s XMR (+2.55%), Ripple’s XRP (+2.02%), and Tron’s TRX (+2.26%) also made solid gains.

EOS (+1.73%) and Stellar’s Lumen (+1.86%) trailed the front runners on the day.

At the start of the week, the crypto total market cap rose to a Monday high $268.43bn before falling to a low $257.27bn. At the time of writing, the total market cap stood at $262.14bn.

Bitcoin’s dominance struck a Monday high 68.31% before falling back to a low 67.52%. At the time of writing, Bitcoin’s dominance stood at 67.71%.

This Morning

At the time of writing, Bitcoin was down by 0.67% to $9,649.9. A bearish start to the day saw Bitcoin fall from an early morning high $9,726.5 to a low $9,622.3.

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

Elsewhere, it was also a bearish start to the day.

Bitcoin Cash SV was down by 1.43% to lead the way down.

BTC/USD 19/05/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through to $9,700 levels to bring the first major resistance level at $9,955.87 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from Monday’s high $9,944.0.

Barring an extended crypto rally, the first major resistance level would likely limit any upside.

In the event of rebound, the 62% FIB of $10,034 would likely come into play.

Failure to move through to $9,700 levels could see Bitcoin fall deeper into the red.

A fall back through to sub-$9,600 levels would bring the first major support level at $9,461.87 into play.

Barring an extended crypto sell-off, however, Bitcoin should steer clear of the second major support level at $9,208.93.

The Crypto Daily – Movers and Shakers -14/05/20

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

Bitcoin rallied by 5.68% on Wednesday. Following on from a 3.00% gain on Tuesday, Bitcoin ended the day at $9,312.0.

A bullish day saw Bitcoin rally from an early intraday low $8,799.5 to a late intraday high $9,408.0.

Bitcoin broke through the first major resistance level at $9,010.80 and second major resistance level at $9,210.20.

In spite of a late pullback, Bitcoin managed to wrap up the day at $9,300 levels.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend.

The Rest of the Pack

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

Ethereum and Monero’s XMR led the way, rallying by 5.26% and 5.25% respectively.

Bitcoin Cash ABC (+3.48%), EOS (+3.77%), Tron’s TRX (+3.41%) weren’t far behind.

Binance Coin (+2.72%), Bitcoin Cash SV (+0.91%), Cardano’s ADA (+2.34%), Litecoin (+2.41%), Ripple’s XRP (+2.53%), and Tezos (+2.43%) trailed the front runners.

Stellar’s Lumen bucked the trend on the day, with a 0.71% loss.

Through the current week, the crypto total market cap rose from a Monday low $229.41bn to a Wednesday high $253.29bn. At the time of writing, the total market cap stood at $252.57bn.

Bitcoin’s dominance visited sub-67% levels before recovering. At the time of writing, Bitcoin’s dominance stood at 67.6%.

24-hour trading volumes rose to an early Monday high $206.86bn before easing back to sub-$140bn levels. Interest picked up on Wednesday, however, with volumes returning to $140bn levels. At the time of writing, 24-hr volumes stood at $144.10bn.

This Morning

At the time of writing, Bitcoin was 0.59% to $9,366.9. A bullish start to the day saw Bitcoin rise from an early morning low $9,311.9 to a high $9,393.0.

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

Elsewhere, it was also a bullish start to the day for the majors.

Bitcoin Cash SV led the way, with a 0.85% gain early on.

BTC/USD 14/05/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to break back through to $9,400 levels to bring the first major resistance level at $9,546.83 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from Wednesday’s high $9,408.0.

Barring a broad-based crypto rally, the first major resistance level would likely pin Bitcoin back on the day.

In the event of rebound, the second major resistance level at $9,781.67 would likely come into play.

Failure to break back through to $9,400 levels could see Bitcoin hit reverse.

A fall through to sub-$9,170 levels would bring the first major support level at $8,938.33 into play.

Barring a crypto meltdown, however, Bitcoin should steer clear of the second major support level at $8,564.67.

The Crypto Daily – Movers and Shakers -07/05/20

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

Bitcoin rose 1.47% on Wednesday. Following on from a 1.72% gain on Tuesday, Bitcoin ended the day at $9,152.5.

A mixed start to the day saw Bitcoin fall to an early morning intraday low $8,913.6 before making a move.

Steering clear of the first major support level at $8,810.87, Bitcoin rallied to a final hour intraday high $9,418.0.

Bitcoin broke through the first major resistance level at $9,177.07 and the second major resistance level at $9,334.03.

A first May visit to $9,400 levels was short-lived, however. Bitcoin slid back through the major resistance levels to wrap up the day at $9,150 levels.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the majors, it was a bearish day for the pack on Wednesday.

EOS slid by 4.12% to lead the way down.

Binance Coin (-3.25%), Bitcoin Cash SV (-3.07%), Ethereum (-3.04%), Litecoin (-3.35%), Monero’s XMR (-3.80%), and Tezos (-3.57%) also saw deep red.

Bitcoin Cash ABC (-1.44%), Cardano’s ADA (-1.55%), Ripple’s XRP (-2.29%), Stellar’s Lumen (-2.83%), and Tron’s TRX (-2.21%) saw relatively modest losses.

Through the current week, the crypto total market cap rose from a Monday low $240.56bn to a Wednesday high $258.03bn. At the time of writing, the total market cap stood at $252.52bn.

While Bitcoin’s dominance held onto 65% levels following Monday’s modest loss, Tuesday and Wednesday’s trend-bucking moves delivered 67% levels. At the time of writing, Bitcoin’s dominance stood at 67.0%.

24-hour trading volumes rose to a Monday high $164.25bn before easing back to a Tuesday current week low $145.07. At the time of writing, 24-hr volumes stood at $163.67bn.

This Morning

At the time of writing, Bitcoin was up by 0.43% to $9,191.6. A mixed start to the day saw Bitcoin fall to an early morning low $9,029.0 before striking a high $9,210.0.

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

Elsewhere, it was bullish start to the day for the rest of the majors.

Cardano’s ADA, Ethereum, and Stellar’s Lumen were up by 1.42%, 1.84, and by 1.64% respectively to lead the way.

BTC/USD 07/05/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to move back through to $9,200 levels to bring the first major resistance level at $9,409.13 into play.

Support from the broader market would be needed, however, for Bitcoin to break back through to $9,400 levels.

Barring a broad-based crypto rally, resistance at $9,300 would likely leave Bitcoin short of the first major resistance level.

In the event of another breakout, $9,500 levels could come into play before any pullback.

Failure to move through to $9,200 levels could see Bitcoin fall back into the red.

A fall through back through to sub-$9,160 levels would bring the first major support level at $8,904.73 into play before any recovery.

Barring a crypto meltdown, however, Bitcoin should steer well clear of the second major support level at $8,656.97.

The Crypto Daily – Movers and Shakers -05/05/20

Bitcoin coin on white keyboard

Bitcoin fell by 0.40% on Monday. Following on from a 0.92% decline on Sunday, Bitcoin ended the day at $8,865.8.

It was a bearish start to the day. Bitcoin slid from an early morning intraday high $8,961.8 to a mid-morning intraday low $8,517.0.

Bitcoin fell through the first major support level at $8,692.53 before rebounding to $8,959 levels.

While breaking back through the first major support level, Bitcoin left the first major resistance level at $9,405.27 untested on the day. Resistance at $9,000 pinned Bitcoin back.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend.

The Rest of the Pack

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

Cardano’s ADA, Tezos, and Tron’s TRX rose by 0.81%, 1.25%, and by 1.16% to buck the trend.

It was a bearish start to the week for the rest of the majors.

Bitcoin Cash ABC (-1.50%), Bitcoin Cash SV (-2.08%), EOS (-2.48%), Ethereum (-1.61%), Litecoin (-2.26%), and Monero’s XMR (-1.71%) saw relatively heavy losses.

Binance Coin (-0.70%), Ripple’s XRP (-0.64%), and Stellar’s Lumen (-0.40%) saw modest losses on the day.

Through the start of the week, the crypto total market cap rose from a Monday low $240.56bn to a high $249.61bn. At the time of writing, the total market cap stood at $248.98bn.

While Bitcoin’s dominance held onto 65% levels following Monday’s modest loss. At the time of writing, Bitcoin’s dominance stood at 65.8%.

24-hour trading volumes rose from $155bn levels to a Monday high $164.25bn before easing back. At the time of writing, 24-hr volumes stood at $161.59bn.

This Morning

At the time of writing, Bitcoin was up by 0.07% to $8,872.4. A mixed start to the day saw Bitcoin rise to an early morning high $8,918.8 before falling to a low $8,850.0.

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

Elsewhere, it was a mixed start to the day.

Cardano’s ADA and Tron’s TRX led the way with gains of 1.16% and 1.25% respectively.

Bitcoin Cash SV bucked the trend, however, with a 0.42% loss early on.

BTC/USD 05/05/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through to $8,900 levels to bring the first major resistance level at $9,046.07 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from Monday’s high $8,961.8.

Barring a broad-based crypto rally, resistance at $9,000 would likely leave Bitcoin short of the first major resistance level.

In the event of another breakout, the second major resistance level at $9,226.33 could come into play.

Failure to move through to $8,900 levels could see Bitcoin hit reverse.

A fall through to sub-$8,780 levels would bring the first major support level at $8,601.27 into play before any recovery.

Barring a crypto meltdown, however, Bitcoin should well clear of the second major support level at $8,336.73.

The Crypto Daily – Movers and Shakers -30/04/20

Closeup hand holding bitcoin over the Cryptocurrency trading scr

Bitcoin surged by 13.26% on Wednesday. Reversing a 0.35% fall from Tuesday, Bitcoin ended the day at $8,778.7.

A particularly bullish day saw Bitcoin rally from an early morning intraday low $7,705.0 to a late intraday high $8,918.0.

Bitcoin broke through the major resistance levels to return to $8,000 for the 1st time since 12th March.

In spite of a late pullback, Bitcoin avoided a fall back through the third major resistance level at $7,971.87.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend.

The Rest of the Pack

Across the rest of the majors, it was a bullish day for the pack on Wednesday.

Cardano’s ADA, EOS, and Ethereum rallied by 10.06%, 8.55%, and by 9.67% respectively to lead the way.

Binance Coin (+6.23%), Bitcoin Cash ABC (+6.26%), Litecoin (+6.68%), Monero’s XMR (+6.46%), and Tezos (+6.83%) also found strong support.

Bitcoin Cash SV (+5.11%), Ripple’s XRP (+5.60%), Stellar’s Lumen (+5.04%), and Tron’s TRX (+5.43%) trailed the front runners.

Through the start of the week, the crypto total market cap rose from a Monday low $220.56bn to a Wednesday high $251.11bn. At the time of writing, the total market cap stood at $250.15bn.

While Bitcoin’s dominance recovered to 64% levels following Wednesday’s breakout. At the time of writing, Bitcoin’s dominance stood at 64.8%.

24-hour trading volumes rose from sub-$130bn levels to an early Thursday high $211.32bn before easing back. At the time of writing, 24-hr volumes stood at $207.42bn.

This Morning

At the time of writing, Bitcoin was up by 1.53% to $8,912.6. A bullish start to the day saw Bitcoin rise from an early morning low $8,707.0 to a high $8,912.7.

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

Elsewhere, it was also a bullish start to the day.

Bitcoin Cash ABC and Bitcoin Cash SV were up by 5.92% and by 10.58% to lead the way.

BTC/USD 30/04/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid sub-$8,500 levels to support a run at the first major resistance level at $9,229.47.

Support from the broader market would be needed, however, for Bitcoin to break through to $9,000 levels.

Barring an extended crypto rally, resistance at $9,000 would likely leave Bitcoin short of the first major resistance level.

In the event of another breakout, the second major resistance level at $9,680.23 and $10,000 levels would come into play.

Failure to avoid sub-$8,500 levels could see Bitcoin struggle later in the day.

A fall back through to sub-$8,470 levels would bring the first major support level at $8,016.47 into play.

Barring a crypto meltdown, however, Bitcoin should steer of sub-$8,000 support levels.

The Crypto Daily – Movers and Shakers -23/04/20

Bitcoin 1

Bitcoin rallied by 4.13% on Wednesday. Following on from a 0.19% gain on Tuesday, Bitcoin ended the day at $7,133.0.

A bearish start to the day saw Bitcoin fall to an early morning intraday low $6,826.2 before making a move.

Steering clear of the first major support level at $6,760.47, Bitcoin rallied to a late afternoon intraday high $7,164.0.

Bitcoin broke through the first major resistance level at $6,949.17 and the second major resistance level at $7,048.33.

In spite of a brief pullback to sub-$7,100 levels, Bitcoin held above the second major resistance level through the remainder of the day.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend.

The Rest of the Pack

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

Tezos (+8.94%), Stellar’s Lumen (+7.88%), Ethereum (+7.05%), and Cardan’s ADA (+6.24%) led the way.

Bitcoin Cash ABC (+5.73%), Bitcoin Cash SV (+4.98%), and EOS (+4.09%) also found strong support.

Binance Coin (+3.89%), Litecoin (+2.92%), Monero’s XMR (+3.15%), Ripple’s XRP (+2.74%), and Tron’s TRX (+3.92%) trailed the front runners.

Through the current week, the crypto total market cap fell from a Monday high $209.37bn to a Tuesday current week low $196.98bn. At the time of writing, the total market cap stood at $207.01bn.

Bitcoin’s dominance continued to hover at sub-64% levels following last week’s gains. At the time of writing, Bitcoin’s dominance stood at 63.4%.

24-hour trading volumes rose to a current week high $146.91bn on Monday before falling to sub-$120bn levels on Tuesday. While seeing a pickup on Wednesday, volumes failed to break through to $130bn levels. At the time of writing, 24-hr volumes stood at $124.73bn.

This Morning

At the time of writing, Bitcoin was up by 0.45% to $7,165.2. A mixed start to the day saw Bitcoin fall to an early morning low $7,110.5 before striking a high $7,177.0.

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

Elsewhere, it was a mixed start to the day.

Stellar’s Lumen led the way, rallying by 3.46%. Binance Coin bucked the trend early on, however, falling by 0.27%.

BTC/USD 23/04/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through to $7,200 levels to bring the first major resistance level at $7,255.93 into play.

Support from the broader market would be needed, however, for Bitcoin to break out from the morning high $7,177.0

Barring another broad-based crypto rally, resistance at $7,200 would likely leave Bitcoin short of the first major resistance level.

In the event of a broad-based crypto rally, the second major resistance level at $7,378.87 would likely come into play.

Failure to move through to $7,200 levels could see Bitcoin hit reverse.

A fall through to sub-$7,040 levels would bring the first major support level at $6,918.13 into play.

Barring a crypto meltdown, however, Bitcoin should steer of the second major support level at $6,703.27.

The Crypto Daily – Movers and Shakers -21/04/20

Bitcoin coin on white keyboard

Bitcoin slid by 4.14% on Monday. Following on from a 1.87% fall on Sunday, Bitcoin ended the day at $6,837.7.

It was a mixed start to the day, with Bitcoin rising to an early morning intraday high $7,236.3 before hitting reverse.

Falling short of the first major resistance level at $7,260.17, Bitcoin slid to a late intraday low $6,766.0.

Bitcoin fell through the first major support level at $7,031.67 and the second major support level at $6,930.03.

Steering clear of the third major support level at $6,701.53, Bitcoin recovered to $6,800 levels to limit the loss.

The near-term bearish trend, formed at late June 2019’s swing hi $13,764.0, remained firmly intact, reaffirmed by the March swing lo $4,000.

For the bulls, Bitcoin would need to break out from $10,000 levels to form a near-term bullish trend.

The Rest of the Pack

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

Binance Coin (-6.59%), Bitcoin Cash ABC (-5.07%), Bitcoin Cash SV (-5.32%), and Tezos (-5.38%) led the way down.

Cardano’s ADA (-4.56%), EOS (-3.49%), Litecoin (-4.80%), Monero’s XMR (-3.75%), Ripple’s XRP (-3.95%), and Tron’s TRX (-3.38%) were close behind, however.

Stellar’s Lumen bucked the trend on the day, rising by 0.94%.

Through the start of the week, the crypto total market cap fell from a Monday high $209.37bn to a low $197.24bn. At the time of writing, the total market cap stood at $198.81bn.

Bitcoin’s dominance continued to hover at sub-64% levels following last week’s broader market gains. At the time of writing, Bitcoin’s dominance stood at 63.6%.

24-hour trading volumes rose from sub-$130bn levels to reach a current week high $146.91bn on Monday before easing back. At the time of writing, 24-hr volumes stood at $146.09bn.

This Morning

At the time of writing, Bitcoin was up by 0.41% to $6,866.0. It was a relatively bullish start to the day. Bitcoin rose from an early morning low $6,825.0 to a high $6,923.0 before easing back.

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

Elsewhere, it was a mixed start to the day.

Tron’s TRX (-0.46%), Monero’s XMR (-0.40%), and Bitcoin Cash ABC (-0.14%) saw red early on.

The rest of the pack found early support, with Binance Coin (+2.00%), and Tezos (+1.99%) leading the way.

BTC/USD 21/04/20 Daily Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through to $6,950 levels to bring the first major resistance level at $7,127.33 into play.

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

Barring another broad-based crypto rally, resistance at $7,000 would likely leave Bitcoin short of the first major resistance level.

In the event of a broad-based crypto rally, the first major resistance level at $7,127.33 and $7,200 levels would likely come into play.

Failure to move through to $6,950 levels could see Bitcoin hit reverse.

A fall through the morning low $6,825.0 would bring the first major support level at $6,657.03 into play.

Barring a crypto meltdown, however, Bitcoin should steer of sub-$6,700 levels.