The Crypto Daily – Movers and Shakers – July 10th, 2021
Bitcoin, BTC to USD, rose by 2.81% on Friday. Reversing a 3.04% decline from Thursday, Bitcoin ended the day at $33,769.0.
A mixed start to the day saw Bitcoin slide to an early morning intraday low $32,237.0 before making a move.
Steering clear of the first major support level at $31,967, Bitcoin rallied to a late intraday high $34,059.0.
Bitcoin broke through the first major resistance level at $33,843 before easing back to sub-$33,800 levels.
The near-term bullish trend remained intact, in spite of the latest return to $32,000 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 Friday.
Bitcoin Cash SV slid by 3.50%, with Polkadot declining by 0.42% to buck the trend on the day.
It was a bullish day for the rest of the majors, however.
Crypto.com Coin rallied by 6.68% to lead the way, with Binance Coin (+2.23%) and Ripple’s XRP (+2.72%) finding strong support.
Chainlink (+1.52%), Cardano’s ADA (+1.70%), Ethereum (+1.47%), and Litecoin (+1.88%) trailed the front runners, however.
In the week, the crypto total market rose to a Wednesday high $1,476bn before falling to a Friday low $1,313bn. At the time of writing, the total market cap stood at $1,395bn.
Bitcoin’s dominance fell to a Thursday low 44.48% before rising to a Friday high 46.09%. At the time of writing, Bitcoin’s dominance stood at 45.77%.
This Morning
At the time of writing, Bitcoin was up by 0.62% to $33,980.0. A mixed start to the day saw Bitcoin fall to an early morning low $33,694.0 before rising to a high $34,015.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a bullish start to the day.
At the time of writing, Chainlink was up by 1.21% to lead the way.
For the Bitcoin Day Ahead
Bitcoin would need to avoid the $33,355 pivot to bring the first major resistance level at $34,473 into play.
Support from the broader market would be needed for Bitcoin to break out from Friday’s high $34,059.0.
Barring a broad-based crypto rebound, the first major resistance level would likely cap any upside.
In the event of an extended crypto rally, Bitcoin could test resistance at $36,000 levels before any pullback. The second major resistance level sits at $35,177.
A fall through the $33,355 pivot would bring the first major support level at $32,651 into play.
Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$32,000 levels. The second major support level sits at $31,533.
This article was originally posted on FX Empire