The Crypto Daily – Movers and Shakers – January 26th, 2021

crypto currency mining concept

Bitcoin, BTC to USD, fell by 0.13% on Monday. Partially reversing a 0.69% gain from Sunday, Bitcoin ended the day at $32,285.0.

A bullish start to the day saw Bitcoin rally to an early afternoon intraday high $34,918.0 before hitting reverse.

Bitcoin broke through the 23.6% FIB of $33,008 and the first major resistance level at $33,256.

Coming up short of the second major resistance level at $34,331, Bitcoin slid to a late intraday low $31,966.0.

While Steering clear of the first major support level at $31,163, Bitcoin fell back through the 23.6% FIB.

Finding late support, Bitcoin briefly revisited $32,500 levels before falling back into the red.

The near-term bullish trend remained intact, in spite of the latest sell-off. For the bears, Bitcoin would need to slide through the 62% FIB of $18,504 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.

Bitcoin Cash SV and Crypto.com Coin rose by 1.56% and by 3.17% respectively to buck the trend on the day.

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

Chainlink (-5.72%), Ethereum (-5.46%), and Polkadot (-4.28%) led the way down.

Binance Coin  (-0.18%), Cardano’s ADA (-3.00%), Litecoin (-2.86%), and Ripple’s XRP (-2.13%) also joined Bitcoin in the red.

At the start of the week, the crypto total market cap rose to a Monday high $1,038.16bn before falling to a Monday low $924.19bn. At the time of writing, the total market cap stood at $951.42bn.

Bitcoin’s dominance rose from a Monday low 62.54% to a high 64.32%. At the time of writing, Bitcoin’s dominance stood at 63.64%.

This Morning

At the time of writing, Bitcoin was up by 0.68% to $32,504.0. A mixed start to the day saw Bitcoin fall to an early morning low $31,768.9 before rising to a high $32,700.0.

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

Elsewhere, it was a mixed start to the day.

Bitcoin Cash SV and Crypto.com Coin bucked the trend early on, with losses of 1.54% and 5.07% respectively.

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

At the time of writing, Ethereum was up by 3.03% to lead the way.

BTCUSD 260121 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to move through the 23.6% FIB of $33,008 and the pivot level at $33,056 to bring the first major resistance level at $34,147 into play.

Support from the broader market would be needed for Bitcoin to break back through to $34,000 levels.

Barring an extended crypto rally, the first major resistance level and Monday’s high $34,918.0 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $37,000 before any pullback. The second major resistance level sits at $36,008.

Failure to move through the 23.6% FIB and the $33,056 pivot would bring the first major support level at $31,195 into play.

Barring an extended crypto sell-off, Bitcoin should steer clear of the second major support level at $30,104.

 

Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 24/01/21

Crypto00 567

Binance Coin

Binance Coin fell by 5.01% in the week ending 23rd January. Following on from a 2.11% fall from the previous week, Binance Coin ended the week at $40.95.

It was a mixed start to the week. Binance Coin rose to a Monday intraweek high and a new swing hi $48.98 before hitting reverse.

Falling short of the first major resistance level at $49.53, Binance Coin slid to a Friday intraweek low $34.69.

The sell-off saw Binance Coin fall the 23.6% FIB of $38.9 before making a partial recovery.

Coming within range of the first major support level at $34.54, Binance Coin broke back through the 23.6% FIB to end the week at $40 levels.

3 days in the red that included a 9.43% sell-off on Thursday delivered the downside for the week.

For the week ahead

Binance Coin would need to move through the $41.54 pivot to bring the first major resistance level at $48.39 into play.

Support from the broader market would be needed for Binance Coin to break out from $45 levels.

Barring an extended crypto rally, the first major resistance level and last week’s high $40.98 would likely limit any upside in the week.

In the event of an extended crypto rally, could test resistance at $55 before any pullback. The second major resistance level sits at $55.83.

Failure to move through the $41.54 pivot would bring the 23.6% FIB of $38.4 and the first major support level at $34.10 and into play.

Barring a crypto sell-off, Binance Coin should steer well clear of the second major support level at $27.25. The 38.2% FIB of $32.3 should limit the downside.

At the time of writing, Binance Coin was down by 0.45% to $40.76. A mixed start to the week saw Binance Coin fall to an early Sunday low $40.33 before striking a high $41.10.

Binance Coin left the major support and resistance levels untested early on.

BNBUSD 240121 Daily Chart

Litecoin

Litecoin fell by 4.05% in the week ending 23rd January. Following on from a 19.34% tumble from the previous week, Litecoin ended the week at $137.76.

It was a mixed start to the week. Litecoin slipped to a Sunday low $136.29 before making a move.

Steering clear of the major support levels, Litecoin rallied to a Tuesday intraweek high $166.21.

While falling short of the first major resistance level at $182.88, Litecoin broke through the 23.6% FIB of $148.

A sell-off mid-week, however, saw Litecoin tumble to a Friday intraweek low $122.25.

While steering clear of the first major support level at $107.58, Litecoin fell through the 23.6% FIB of $148 and the 38.2% FIB of $125.

Finding support late in the week, Litecoin broke back through the 38.2% FIB to end the week at $137 levels.

3 days in the red that included an 13.37% slump on Thursday delivered the downside.

For the week ahead

Litecoin would need to move through the $142.07 pivot and the 23.6% FIB of $148 to support a run at the first major resistance level at $161.90.

Support from the broader market would be needed, however, for Litecoin to break back through to $160 levels.

Barring an extended crypto rally, the first major resistance level and last week’s high $166.21 would likely limit any upside.

In the event of an extended breakout, Litecoin could test resistance at $180 before any pullback. The second major resistance level sits at $186.03.

Failure to move through the $142.07 pivot and the 23.6% FIB would bring the 38.2% FIB of $125 and the first major support level at $117.94 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$100 levels. The second major support level sits at $98.11.

At the time of writing, Litecoin was down by 0.28% to $137.37. A mixed start to the week saw Litecoin fall to an early Sunday low $136.34 before striking a high $138.51.

Litecoin left the major support and resistance levels untested at the start of the week.

LTCUSD 240121 Daily Chart

Tron’s TRX

Tron’s TRX fell by 2.31% in the week ending 23rd January. Following on from an 11.58% slide in the week prior, Tron’s TRX ended the week at $0.02955.

It was a mixed week. Tron’s TRX rallied to a Tuesday intraweek high $0.03333 before hitting reverse.

While falling short of the first major resistance level at $0.03724, Tron’s TRX broke through the 23.6% FIB of $0.0291.

The reversal saw Tron’s TRX slide back through the 23.6% FIB to a Friday intraweek low $0.02448.

Steering clear of the first major support level at $0.02373, Tron’s TRX broke back through the 23.6% FIB to wrap up the week at $0.0295 levels.

3 days in the red that included an 8.07% slide on Thursday delivered the downside for the week.

For the week ahead

Tron’s TRX would need to avoid a fall back through the 23.6% FIB of $0.0291 and the $0.02912 pivot to support a run at the first major resistance level at $0.03376.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.033 levels.

Barring a broad-based crypto rally, the first major resistance level and last week’s high $0.03333 would likely cap any upside.

In the event of an extended rally, the second major resistance level at $0.03797 and resistance at $0.040 would likely come into play.

Failure to avoid a fall back through the $0.02912 pivot and the 23.6% FIB would bring the first major support level at $0.02491 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer clear of the second major support level at $0.02027.

At the time of writing, Tron’s TRX was up by 2.59% to $0.03031. A mixed start to the week saw Tron’s TRX fall to an early Sunday low $0.02882 before striking a high $0.03081.

Tron’s TRX left the major support and resistance levels untested at the start of the week.

TRXUSD 240121 Daily Chart

The Crypto Daily – Movers and Shakers – January 21st, 2021

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Bitcoin, BTC to USD, fell by 1.04% on Wednesday. Following on from a 2.17% decline on Tuesday, Bitcoin ended the day at $35,516.0.

It was a mixed start to the day. Bitcoin rose to an early morning high $36,422.0 before hitting reverse.

Falling short of the first major resistance level at $37,263, Bitcoin slid to a late afternoon intraday low $33,303.0.

Bitcoin fell through the first major support level at $35,190 and the second major support level at $34,490.

Steering clear of the 23.6% FIB of $33,008, Bitcoin broke back through the support levels to end the day at $35,500 levels.

The near-term bullish trend remained intact, in spite of the latest reversal. For the bears, Bitcoin would need to slide through the 62% FIB of $18,504 to form a near-term bearish trend.

The Rest of the Pack

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

Bitcoin Cash SV and Crypto.com Coin slid by 3.47% and by 5.35% to lead the way down.

Litecoin fell by a more modest 1.40% to also join Bitcoin in the red.

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

Polkadot jumped by 10.91% to lead the way, with Chainlink (+6.39%) also finding strong support.

Binance Coin  (+0.08%), Cardano’s ADA (+2.21%), Ethereum (+0.67), and Ripple’s XRP (+0.40%) also ended the day in the green.

In the current week, the crypto total market cap fell to a Monday low $958.80bn before rising to a Tuesday high $1,080.72bn. At the time of writing, the total market cap stood at $1,005.35bn.

Bitcoin’s dominance rose to a Monday high 67.47% before falling to a Wednesday low 65.02%. At the time of writing, Bitcoin’s dominance stood at 65.29%.

This Morning

At the time of writing, Bitcoin was down by 0.61% to $35,300.0. A mixed start to the day saw Bitcoin rise to an early morning high $35,616.0 before falling to a low $35,183.0.

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

Elsewhere, it was a mixed start to the day.

Bitcoin Cash SV and Crypto.com Coin bucked the trend early on, with gains of 1.44% and 4.40% respectively.

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

At the time of writing, Polkadot was down by 1.93% to lead the way down.

BTCUSD 210121 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $35,080 to bring the first major resistance level at $36,858 into play.

Support from the broader market would be needed for Bitcoin to break out from Wednesday’s high $36,422.0.

Barring an extended crypto rally, first major resistance level and resistance at $37,000 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $40,000 before any pullback. The second major resistance level sits at $38,199.

Failure to avoid a fall through the $35,080 pivot would bring the first major support level at $35,759 into play.

Barring an extended crypto sell-off, Bitcoin should avoid the second major support level at $31,961 The 23.6% FIB of $33,008 should limit the downside.

Binance Coin Mid-Week Analysis – Resistance Levels in Play – 20/01/21

Closeup hand holding bitcoin over the Cryptocurrency trading scr

Binance Coin Price Resistance

It’s been a mixed 1st half of the week for Binance Coin.

Binance Coin fell to a Sunday current week low $40.02 before making a move.

Steering clear of the first major support level at $34.54, Binance Coin rallied to a Monday current week high and a new swing hi $48.98.

Coming up short of the first major resistance level at $49.53, however, Binance Coin fell back to $41 levels before finding support.

For the current week, Sunday through Tuesday, Binance Coin was down by 1.23% to $42.58.

2 days in the red from 3 that included a 6.05% slide on Tuesday delivered the downside. The Tuesday sell-off reversed a 6.38% breakout from Sunday.

The near-term bullish trend remained intact, supported by the Monday new swing hi $48.98. For the bears, a fall through the 62% FIB of $22.7 would form a near-term bearish trend.

It has been a bullish start to the year, with Binance Coin up by 13.7%.

At the time of writing, Binance Coin was down by 1.17% to $42.08. A mixed start to the day on Wednesday saw Binance Coin rise to an early Wednesday morning high $43.25 before falling to a low $41.45.

Binance Coin left the major support and resistance levels untested early on.

BNBUSD 200121 Daily Chart

For the remainder of the week

Binance Coin would need to avoid a fall back through $40.98 pivot to bring the first major resistance level at $49.53 back into play.

Support from the broader market would be needed, however, for Binance Coin to break out from the current week high $48.98.

Barring an extended crypto rally, the first major resistance level and resistance at $50 would likely cap any upside.

In the event of an extended breakout, however, Binance Coin could test resistance at $55 before any pullback. The third major resistance level sits at $55.97.

Failure to avoid a fall back through $40.98 pivot would bring the 23.6% FIB of $38.9 and the first major support level at $34.54 into play.

Barring an extended sell-off going into the weekend, however, Binance Coin should steer clear of the 38.2% FIB of $32.7. The second major support level sits at $25.99.

Looking at the Technical Indicators

Major Support Level: $34.54

Major Resistance Level: $49.53

23.6% FIB Retracement Level: $38.9

38.2% FIB Retracement Level: $32.7

62% FIB Retracement Level: $22.7

The Crypto Daily – Movers and Shakers – January 19th, 2021

Binance is a finance exchange market. Crypto Currency background concept.

Bitcoin, BTC to USD, rose by 2.22% on Monday. Reversing a 0.38% decline from Sunday, Bitcoin ended the day at $36,699.0.

It was a mixed start to the day. Bitcoin rose to an early morning high $36,244.0 before hitting reverse.

Falling short of the first major resistance level at $37,263, Bitcoin slid to a mid-morning intraday low $34,842.0.

Steering clear of the first major support level at $34,203, however, Bitcoin rallied to a mid-day intraday high $37,555.0.

Bitcoin broke through the first major resistance level at $37,263 before a slide back to sub-$35,500 levels.

Finding late support, Bitcoin moved back through to $36,000 levels to end the day in the green.

The near-term bullish trend remained intact, in spite of the latest reversal. For the bears, Bitcoin would need to slide through the 62% FIB of $18,504 to form a near-term bearish trend.

The Rest of the Pack

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

Chainlink and Polkadot slid by 5.36% and by 4.99% respectively to lead the way down.

Binance Coin  (-1.14%) and Cardano’s ADA (-2.49%) also saw red on the day.

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

Litecoin rallied by 6.39% to lead the way.

Bitcoin Cash SV (+2.02%), Crypto.com Coin (+1.39%), Ethereum (+2.10%), and Ripple’s XRP (+2.77%) also found support.

At the start of the week, the crypto total market cap fell to a Monday low $958.83bn before rising to a high $1,049.2bn. At the time of writing, the total market cap stood at $1,016.95bn.

Bitcoin’s dominance fell to a Monday low 66.40% before rising to a Monday high 67.48%. At the time of writing, Bitcoin’s dominance stood at 66.87%.

This Morning

At the time of writing, Bitcoin was down by 0.40% to $36,551.0. A mixed start to the day saw Bitcoin rise to an early morning high $36,989.0 before falling to a low $36,545.0.

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

Elsewhere, it was a mixed start to the day.

Chainlink (-1.13%), Ethereum (-0.15%), Litecoin (-0.91%), and Ripple’s XRP (-0.21%) joined Bitcoin in the red early on.

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

At the time of writing, Crypto.com Coin was up by 5.63% to lead the way.

BTCUSD 190121 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $36,365 to bring the first major resistance level at $37,889 into play.

Support from the broader market would be needed for Bitcoin to break out from Monday’s high $37,555.0.

Barring an extended crypto rally, first major resistance level and resistance at $38,000 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test resistance at $40,000 before any pullback. The second major resistance level sits at $39,078.

Failure to avoid a fall through the $36,365 pivot would bring the first major support level at $35,176 into play.

Barring an extended crypto sell-off, Bitcoin should steer clear of the second major support level at $33,652.

Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 17/01/21

Ripple, Dash coin, Bitcoin, Monero and Ethereum

Binance Coin

Binance Coin fell by 2.11% in the week ending 16th January. Partially reversing a 14.97% rally from the previous week, Binance Coin ended the week at $43.09.

It was a mixed start to the week. Binance Coin rose to a Sunday intraweek high $47.42 before hitting reverse.

Falling well short of the first major resistance level at $50.22, Binance Coin slid to a Monday intraweek low $32.43.

Binance Coin fell the first major support level at $35.82 and the 23.6% FIB of $37.00.

Finding support at the 38.2% FIB of $32.3, Binance Coin revisited $45 levels before falling back into the red.

The partial recovery saw Binance Coin break back through the 23.6% FIB to end the week at $43 levels.

3 days in the red that included a 10.00% sell-off on Monday delivered the downside for the week.

For the week ahead

Binance Coin would need to avoid a fall through the $40.98 pivot to bring the first major resistance level at $49.53 into play.

Support from the broader market would be needed for Binance Coin to break out from last week’s high $47.42.

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

In the event of another crypto rally, could test resistance at $55 before any pullback. The second major resistance level sits at $55.97.

Failure to avoid a fall through the $40.98 pivot would bring the 23.6% FIB of $38.4 and the first major support level at $34.54 and into play.

Barring a crypto sell-off, Binance Coin should steer well clear of the second major support level at $25.99. The 38.2% FIB of $32.3 should limit the downside.

At the time of writing, Binance Coin was up by 0.76% to $43.42. A mixed start to the week saw Binance Coin fall to an early Sunday morning low $42.29 before striking a high $44.67.

Binance Coin left the major support and resistance levels untested early on.

BNBUSD 170121 Daily Chart

Litecoin

Litecoin tumbled by 19.34% in the week ending 16th January. Partially reversing a 29.74% surge from the previous week, Litecoin ended the week at $143.5.

It was a bullish start to the week. Litecoin rallied to a Sunday intraweek high and a new swing hi $186.34 before hitting reverse.

Falling short of the first major resistance level at $194.45, Litecoin slid to a Monday intraweek low $111.04.

The sell-off saw Litecoin fall through the first major support level at $148.40 and the second major support level at $118.92.

More significantly, Litecoin also fell through the 23.6% FIB of $148 and the 38.2% FIB of $125.

Steering clear of sub-$100 support levels, however, Litecoin revisited $156 levels before easing back.

Litecoin briefly broke back through the 23.6% FIB of $148 before ending the week down at $143 levels.

5 days in the red that included an 18.08% slump on Monday delivered the downside. A 10.59% rally on Wednesday limited the damage, however.

For the week ahead

Litecoin would need to move through the $147.0 pivot and the 23.6% FIB of $148 to support a run at the first major resistance level at $182.88.

Support from the broader market would be needed, however, for Litecoin to break back through to $170 levels.

Barring an extended crypto rally, the first major resistance level and last week’s high $186.34 would likely limit any upside.

In the event of a breakout, Litecoin could test resistance at $200 before any pullback. The second major resistance level sits at $222.3.

Failure to move through the $147 pivot and the 23.6% FIB would bring the 38.2% FIB of $125 and the first major support level at $107.6 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$100 levels. The second major support level sits at $71.7.

At the time of writing, Litecoin was up by 1.05% to $145.00. A mixed start to the week saw Litecoin fall to an early Sunday morning low $141.57 before striking a high $145.90.

Litecoin left the major support and resistance levels untested at the start of the week.

LTCUSD 170121 Daily Chart

Tron’s TRX

Tron’s TRX slid by 11.58% in the week ending 16th January. Partially reversing a 26.38% jump from the week prior, Tron’s TRX ended the week at $0.03024.

It was a mixed week. Tron’s TRX rallied to a Sunday intraweek high $0.03772 before hitting reverse.

Falling short of the first major resistance level at $0.03900, Tron’s TRX slid to a Monday intraweek low $0.02421.

The sell-off saw Tron’s TRX fall through the 23.6% FIB of $0.0291 and the first major support level at $0.02685.

Finding support mid-week, Tron’s TRX broke back through the first major support level and the 23.6% FIB.

Falling short of $0.034 levels, however, Tron’s TRX slid back to sub-$0.027 levels before ending the week at $0.030 levels.

5 days in the red that included an 11.44% slide on Monday delivered the downside for the week. A 5.99% rally on Wednesday limited the damage, however.

For the week ahead

Tron’s TRX would need to move back through the $0.03072 pivot to support a run at the first major resistance level at $0.03724.

Support from the broader market would be needed, however, for Tron’s TRX to break back through to $0.037 levels.

Barring a broad-based crypto rally, the first major resistance level and last week’s high $0.03772 would likely cap any upside.

In the event of an extended rally, the 38.2% FIB of $0.0428 and the second major resistance level at $0.04423 would likely come into play.

Failure to move back through the $0.03072 pivot would bring the 23.6% FIB of $0.0291 and the first major support level at $0.02373 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer clear of sub-$0.023 levels. The second major support level sits at $0.01721.

At the time of writing, Tron’s TRX was down by 0.27% to $0.03016. A mixed start to the week on Sunday saw Tron’s TRX fall to an early morning low $0.02950 before striking a high $0.03101.

Tron’s TRX left the major support and resistance levels untested at the start of the week.

TRXUSD 170121 Daily Chart

The Crypto Daily – Movers and Shakers – January 14th, 2021

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

Bitcoin, BTC to USD, rallied by 9.54% on Wednesday to end a run of 4 consecutive days in the red. Reversing a 3.63% loss from Tuesday, Bitcoin ended the day at $37,358.1.

It was a mixed start to the day. Bitcoin slid to an early morning low $32,436.0 before making a move.

While steering clear of the first major support level at $32,148, Bitcoin fell through the 23.6% FIB of $33,008.

Finding early morning support, however, Bitcoin rallied to a late intraday high $37,776.0.

Bitcoin broke back through the 23.6% FIB and broke through the first major resistance level at $36,377.

Coming up short of $38,000 levels, however, Bitcoin eased back to end the day at sub-$37,500 levels.

The near-term bullish trend remained intact, in spite of the latest sell-off. For the bears, Bitcoin would need to slide through the 62% FIB of $18,504 to form a near-term bearish trend.

The Rest of the Pack

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

Polkadot surged by 19.97% to lead the way, with Chainlink rallying by 13.86%

Cardano’s ADA (+8.06%), Ethereum (+7.65%), and Litecoin (+10.61%) also saw solid gains.

Binance Coin (+4.88%), Bitcoin Cash SV (+5.93%), Crypto.com Coin (+3.40%), and Ripple’s XRP (+4.54%) trailed the front runners, however.

In the current week, the crypto total market cap rose to a Monday high $1,040.51 before falling to a Monday low $804.33bn. At the time of writing, the total market cap stood at $1,010.5bn.

Bitcoin’s dominance rose from a Monday low 68.39% to a Monday high 69.97%. At the time of writing, Bitcoin’s dominance stood at 69.71%.

This Morning

At the time of writing, Bitcoin was up by 1.01% to $37,734.4. A bullish start to the day saw Bitcoin rise from an early morning low $37,368.0 to a high $38,143.0.

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

Elsewhere, it was a mixed start to the day.

Litecoin and Ripple’s XRP bucked the trend early on, with losses of 0.57% and 0.62% respectively. Bitcoin Cash SV was flat.

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

At the time of writing, Polkadot was up by 4.38% to lead the way.

BTCUSD 140121 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $35,857 to bring the first major resistance level at $39,277 into play.

Support from the broader market would be needed for Bitcoin to break through to $39,000 levels.

Barring an extended crypto rally, first major resistance level and resistance at $40,000 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test the second major resistance level at $41,197.

Failure to avoid a fall through the $35,857 pivot would bring the first major support level at $33,937 and the 23.6% FIB of $33,008 into play.

Barring another extended crypto sell-off, Bitcoin should continue to steer clear of sub-$30,000 levels. The second major support level at $30,517 should limit the downside.

Binance Coin Mid-Week Analysis – Support Levels in Play – 13/01/21

Binance is a finance exchange market. Crypto Currency background concept.

Binance Coin Price Support

It’s been a bearish 1st half of the week for Binance Coin.

Binance Coin rallied to a Sunday current week high $47.42 before hitting reverse.

Falling short of the first major resistance level at $50.22. Binance Coin slid to a Monday current week low $32.43.

The sell-off saw Binance Coin fall through the first major support level at $35.82.

More significantly, Binance Coin fell through the 23.6% FIB of $38.4.

Finding support at the 38.2% FIB of $32.3, Binance Coin revisited $41 levels on Tuesday before falling back to sub-$40 levels.

Binance Coin broke back through the first major support level and the 23.6% FIB.

A late pullback on Tuesday, however, saw Binance Coin fall back through the 23.6% FIB to $38.2 levels.

For the current week, Sunday through Tuesday, Binance Coin was down by 13.1% to $38.26

2 days in the red from 3 that included a 10% slide on Monday delivered the downside.

The near-term bullish trend remained intact, in spite of the latest pullback. For the bears, a fall through the 62% FIB of $22 would form a near-term bearish trend.

It has been a bullish start to the year, with Binance Coin up by 2.14%.

At the time of writing, Binance Coin was down by 1.36% to $37.74. A mixed start to the day on Wednesday saw Binance Coin rise to an early Wednesday morning high $39.01 before falling to a low $36.28.

While Binance Coin left the major support and resistance levels untested, Binance Coin briefly broke through the 23.6% FIB of $38.4.

BNBUSD 130121 Daily Chart

For the remainder of the week

Binance Coin would need to move back through 23.6% FIB and the $42 pivot to bring the first major resistance level at $50.22 into play.

Support from the broader market would be needed, however, for Binance Coin to break out from last week’s high $48.24.

Barring an extended crypto rally, resistance at $45 would likely leave Binance Coin short of the major resistance levels.

In the event of an extended breakout, however, Binance Coin could test resistance at $55 before any pullback. The second major resistance level sits at $56.53.

Failure to move back through the 23.6% FIB of $38.4 and the $42 pivot would bring the first major support level at $35.82 back into play.

Barring an extended sell-off going into the weekend, however, Binance Coin should steer clear of sub-$30 levels. The 38.2% FIB of $32.3 should limit any downside.

Looking at the Technical Indicators

Major Support Level: $36

Major Resistance Level: $50

23.6% FIB Retracement Level: $38

38.2% FIB Retracement Level: $32

62% FIB Retracement Level: $22

The Crypto Daily – Movers and Shakers – January 12th, 2021

Cryptomania

Bitcoin, BTC to USD, slid by 7.31% on Monday. Following on from a 4.90% decline on Sunday, Bitcoin ended the day at $35,408.0.

It was a mixed start to the day. Bitcoin rose to an early morning intraday high $38,277 before hitting reverse.

Falling short of the first major resistance level at $41,313, Bitcoin slid to a late afternoon intraday low $30,635.0.

The sell-off saw Bitcoin fall through the first major support level at $35,174 and the second major support level at $32,147.

More significantly, Bitcoin also fell through the 23.6% FIB of $33,008.

Avoiding sub-$30,000 levels, Bitcoin revisited $35,900 levels late in the day before easing back.

The partial recovery saw Bitcoin move back through the support levels and the 23.6% FIB to end the day at $35,400 levels.

The near-term bullish trend remained intact, in spite of the latest sell-off. For the bears, Bitcoin would need to slide through the 62% FIB of $18,504 to form a near-term bearish trend.

The Rest of the Pack

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

Bitcoin Cash SV  and Crypto.com Coin slid by 28.84% and by 24.54% to lead the way down.

Binance Coin (-10.00%), Ethereum (-13.25%), and Litecoin (-18.09 %) also saw particularly heavy losses.

Cardano’s ADA (-8.65%), Chainlink (-9.76%), Polkadot (-4.12%), and Ripple’s XRP (-8.63%) also struggled, however.

At the start of the week, the crypto total market cap slid to a Monday high $1,040.98 to a low $804.04bn. At the time of writing, the total market cap stood at $930.19bn.

Bitcoin’s dominance rose from a Monday low 68.36% to a high 70.00%. At the time of writing, Bitcoin’s dominance stood at 69.63%.

 

This Morning

At the time of writing, Bitcoin was down by 0.37% to $35,277.0. A mixed start to the day saw Bitcoin rise to an early morning high $35,560.0 before falling to a low $35,127.0.

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

Elsewhere, it was another mixed start to the day.

Bitcoin Cash and Crypto.com Coin bucked the trend early on with gains of 12.54% and 6.70%.

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

At the time of writing, Chainlink was down by 1.54% to lead the way down.

BTCUSD 120121 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid a fall through the pivot level at $34,773 to bring the first major resistance level at $38,912 into play.

Support from the broader market would be needed for Bitcoin to break out from Monday’s high $38,277.0.

Barring an extended crypto rally, first major resistance level and resistance at $40,000 would likely cap any upside.

In the event of an extended crypto rally, Bitcoin could test the second major resistance level at $42,415.

Failure to avoid a fall through the $34,773 pivot would bring the 23.6% FIB of $33,008 and the first major support level at $31,270 into play.

Barring another extended crypto sell-off, Bitcoin should steer clear of sub-$30,000 levels and the 38.2% FIB of $27,465. The second major support level sits at $27,131.

Altcoins Weekly Analysis – Binance Coin, Litecoin and Tron’s TRX – 10/01/21

Depositphotos_166797044_s-2019

Binance Coin

Binance Coin rallied by 14.97% in the week ending 9th January. Following a 13.89% gain from the previous week, Binance Coin ended the week at $44.01.

It was a mixed start to the week. Binance Coin rose to a Monday high and a new swing hi $46.46 before hitting reverse.

The early rally saw Binance Coin break through the first major resistance level before sliding to a Monday intraweek low $33.84.

While steering clear of the first major support level at $33.15, Binance Coin fell through the 23.6% FIB of $37.00.

Finding support mid-week, Binance Coin rallied to a Thursday intraweek high and a new swing hi $48.24.

Binance Coin broke back through the 23.6% FIB and the first major resistance level before falling back to sub-$38 levels.

Finding support at the 23.6% FIB, however, Binance Coin broke back through the first major resistance level to revisit $45 levels before easing back.

5 days in the green that included a 7.96% rally on Sunday delivered the upside for the week.

For the week ahead

Binance Coin would need to avoid a fall through the $42.03 pivot to bring the first major resistance level at $50.22 into play.

Support from the broader market would be needed for Binance Coin to break out from last week’s high $48.24.

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

In the event of another crypto rally, could test the second major resistance level at $56.43.

Failure to avoid a fall through the $42.03 pivot would bring the 23.6% FIB of $38.4 and the first major support level at $35.82 and into play.

Barring a crypto sell-off, Binance Coin should steer clear of the 38.2% FIB of $32.3. The second major support level at sits $27.63.

At the time of writing, Binance Coin was up by 1.55% to $44.70. A mixed start to the week saw Binance Coin fall to an early Sunday morning low $43.99 before striking a high $45.58.

Binance Coin left the major support and resistance levels untested early on.

BNBUSD 100121 Daily Chart

Litecoin

Litecoin jumped by 29.74% in the week ending 9th January. Following on from a 5.84% gain from the previous week, Litecoin ended the week at $177.87.

It was a bullish start to the week. Litecoin rallied from a Sunday intraweek low $135.50 to a Thursday high and a new swing hi $181.25 before hitting reverse.

The rally saw Litecoin break through the week’s major resistance levels before a Friday slide back to $150 levels.

The sell-off saw Litecoin fall through the third major resistance level at $177.53 and the second major resistance level at $155.32.

Steering clear of the first major resistance level at $143.15, Litecoin bounced back to a Friday intraweek high and a new swing hi $181.55.

Litecoin broke back through the second and third major resistance levels before falling back to sub-$170 levels.

A bullish end to the week, however, saw Litecoin revisit $179 levels before easing back. The third major resistance level at $177.53 delivered support at the end of the week.

6 days in the green that included a 17.79% rally on Sunday delivered the upside.

For the week ahead

Litecoin would need to avoid the $164.97 pivot to support a run at the first major resistance level at $194.45.

Support from the broader market would be needed, however, for Litecoin to break out from last week’s high $181.55.

Barring an extended crypto rally, the first major resistance level and resistance at $200 would likely limit any upside.

In the event of another breakout, the second major resistance level at $211.02 and resistance at $215 would likely come into play.

Failure to avoid a fall through the $164.97 pivot would bring the first major support level at $148.40 and the23.6% FIB of $145 into play.

Barring an extended crypto sell-off, however, Litecoin should steer clear of sub-$140 levels. The second major support level sits at $118.92.

At the time of writing, Litecoin was up by 0.32% to $178.44. A mixed start to the week saw Litecoin fall to an early Sunday morning low $176.89 before striking a high $180.00.

Litecoin left the major support and resistance levels untested at the start of the week.

LTCUSD 100121 Daily Chart

Tron’s TRX

Tron’s TRX jumped by 26.38% in the week ending 9th January. Reversing a 0.54% decline from the week prior, Tron’s TRX ended the week at $0.3420.

It was a mixed week. Tron’s TRX fell to a Sunday intraweek low $0.024303 before making a move.

Steering clear of the first major support level at $0.02395, Tron’s TRX rallied to a Saturday intraweek high $0.03645.

Tron’s TRX broke through the 23.6% FIB of $0.0291 and the first major resistance level at $0.03187.

Coming up against the second major resistance level at $0.03635, Tron’s TRX eased back to end the week at $0.034 levels.

5 days in the red that included a 7.57% rally on Sunday and a 13.66% breakout on Saturday delivered the upside for the week.

For the week ahead

Tron’s TRX would need to avoid a fall through the $0.03165 pivot to support a run at the first major resistance level at $0.03900.

Support from the broader market would be needed, however, for Tron’s TRX to break out from last week’s high $0.03645.

Barring a broad-based crypto rally, the first major resistance level would likely cap any upside.

In the event of an extended rally, the 38.2% FIB of $0.0428 and the second major resistance level at $0.04380 would likely come into play.

Failure to avoid a fall through the $0.03165 pivot would bring the 23.6% FIB of $0.0291 and the first major support level at $0.02685 into play.

Barring an extended crypto sell-off, however, Tron’s TRX should steer well clear of sub-$0.025 levels. The second major support level sits at $0.01950.

At the time of writing, Tron’s TRX was up by 5.01% to $0.03592. A mixed start to the week on Sunday saw Tron’s TRX fall to an early morning low $0.03380 before striking a high $0.03635.

Tron’s TRX left the major support and resistance levels untested at the start of the week.

TRXUSD 100121 Daily Chart