The Crypto Daily – Movers and Shakers – October 10, 2021

Bitcoin, BTC to USD, was up 1.89% on Saturday. Following a 0.28% gain on Friday, Bitcoin ended the day at $ 54,968.

A mixed start to the day caused Bitcoin to drop to an early morning intraday low of $ 53,678.0 before making a move.

Staying clear of the first major support level at $ 53,051, Bitcoin rallied to an early afternoon intraday high of $ 55,475.0.

Bitcoin broke the first major resistance level at $ 55,422 before falling back to levels below $ 54,500.

However, finding late support, Bitcoin tested resistance at $ 55,000 before turning back.

The short-term uptrend remained intact, supporting the latest return to $ 56,000 levels. For bears, Bitcoin would need a sustained drop through the 62% FIB to $ 27,237 to form a short-term downtrend.

The rest of the pack

In the rest of the majors, Saturday was a mixed day. currency broke the trend, falling 0.45%.

However, it was a bullish day for the rest of the majors.

Ripple XRP jumped 9.03% to lead the way, with Polkadot (+ 6.96%) very close.

Bitcoin Cash SV (+ 2.16%), Link of the chain (+ 3.98%) and Litecoin (+ 2.29%) also found strong support.

Binance Coin (+ 0.65%), Cardano ADA (+ 1.43%), Ethereum (+ 0.33%), however, it was behind the top ranked.

In the current week, the total crypto market fell to a Monday low of $ 2.009 billion before climbing to a Friday high of $ 2.425 billion. At the time of writing, the total market capitalization was $ 2.351 billion.

Bitcoin’s dominance fell to a Tuesday low of 42.52% before rising to a Wednesday high of 45.62%. At the time of this writing, Bitcoin’s dominance was 43.98%.

This morning

At the time of writing, Bitcoin is down 0.11% to $ 54,907.0. A mixed start to the day saw Bitcoin rise to a morning high of $ 54,984.0 before dropping to a low of $ 54,871.0.

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, Litecoin is down 0.74% to lead the way down.

For the Bitcoin day ahead

Bitcoin would have to avoid the pivot of $ 54,707 to bring the first major resistance level into play at $ 55,736.

Overall market support would be needed for Bitcoin to break out of Saturday’s high of $ 55,475.0.

Barring a broad-based crypto rally, the first major resistance level and resistance at $ 56,000.0 would likely limit the upside.

In the event of a broad-based crypto rally, Bitcoin could test resistance at $ 58,000 levels before any pullbacks. The second main resistance level sits at $ 56,504.

A drop through $ 54,707 would put the first major support level into play at $ 53,939.

Barring an extended sell-off on the day, Bitcoin should stay away from less than $ 52,000. The second major support level at $ 52,910 should limit the downside.

This Article was originally published on FX Empire

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