The Crypto Daily – Movers and Shakers – September 7th, 2021

Bitcoin, BTC to USD, rose by 1.73% on Monday. Following a 3.77% rally on Sunday, Bitcoin ended the day at $52,676.0.

After mixed start to the day, Bitcoin fell to a mid-day intraday low $51,050.0 before making a move.

Steering clear of the first major support level at $50,200, Bitcoin rallied to a late intraday high $52,742.0.

Bitcoin broke through the first major resistance level at $52,630 to end the day at $52,670 levels.

The near-term bullish trend remained intact, supported by the latest return to $52,000 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

Crypto.com Coin and Ripple’s XRP rallied by 9.26% and by 6.18% respectively to lead the way.

Bitcoin Cash SV (+0.58%) and Chainlink (+3.55%) also found strong support.

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

Litecoin slid by 5.52% to lead the way down.

Binance Coin (-1.71%), Cardano’s ADA (-2.68%), Ethereum (-0.58%), and Polkadot (-1.97%) also saw red.

Early in the week, the crypto total market fell to a Monday low $2,307bn before rising to a Monday high $2,387bn. At the time of writing, the total market cap stood at $2,379bn.

Bitcoin’s dominance fell to a Monday low 41.09% befor rising to an early Tuesday high 41.72%. At the time of writing, Bitcoin’s dominance stood at 41.67%.

This Morning

At the time of writing, Bitcoin was down by 0.02% to $52,663.0. A mixed start to the day saw Bitcoin fall to an early morning low $52,573.0 before rising to a high $52,749.0.

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

Elsewhere, it was a mixed start to the day.

Crypto.com Coin was up by 2.78% early on. Binance Coin (+0.24%), Bitcoin Cash SV (+0.30%), and Cardano’s ADA (+0.34%) also found early support.

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

At the time of writing, Ripple’s XRP was down by 1.17% to lead the way down.

BTCUSD 070921 Hourly Chart

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $52,156 pivot to bring the first major resistance level at $53,262 into play.

Support from the broader market would be needed for Bitcoin to break back through $53,000 levels.

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

In the event of an extended crypto rally, Bitcoin could test resistance at $55,000 before any pullback. The second major resistance level sits at $53,848.

A fall through the $52,156 pivot would bring the first major support level at $51,570 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of the 23.6% FIB of $50,473 and the second major support level at $50,464.

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