The Crypto Daily – Movers and Shakers – November 18th, 2021
Bitcoin, BTC to USD, rose by 0.47% on Wednesday. Following a 5.49% slide on Tuesday, Bitcoin ended the day at $60,352.8.
A bearish start to the day saw Bitcoin slide to a late morning intraday low $58,368.0 before making a move.
Steering clear of the first major support level at $57,942, Bitcoin rose to a late morning intraday high $60,851.0.
Falling short of the first major resistance level at $62,878, however, Bitcoin fell back to sub-$60,000 before ending the day at $60,300 levels.
The near-term bullish trend remained intact, supported by last Wednesday’s ATH $68,958.
The Rest of the Pack
Across the rest of the majors, it was a mixed day on Wednesday.
Binance Coin (-1.88%) and Litecoin (-0.39%) saw red to buck the trend on the day.
It was a bullish day for the rest of the majors, however.
Crypto.com Coin rallied by 14.28% to lead the way, with Polkadot (+4.15%) also finding strong support.
Bitcoin Cash SV (+0.31%), Cardano’s ADA (+0.04%), Chainlink (+0.17%), Ethereum (+1.89%), and Ripple’s XRP (+0.76%) trailed the front runners, however.
In the current week, the crypto total market rose to a Monday high $2,902bn before falling to a Wednesday low $2,472bn. At the time of writing, the total market cap stood at $2,599.
Bitcoin’s dominance fell to a Monday low 43.26% before rising to a Wednesday high 44.55%. At the time of writing, Bitcoin’s dominance stood at 44.01%.
This Morning
At the time of writing, Bitcoin was up by 0.51% to $60,658.0. A mixed start to the day saw Bitcoin fall to an early morning low $60,135.0 before rising to a high $60,666.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Bitcoin Cash SV and Polkadot bucked the early trend, falling by 0.25% and by 0.08% respectively.
It’s been a bullish start for the rest of the majors, however.
At the time of writing, Crypto.com Coin was up by 11.18% to lead the way.
For the Bitcoin Day Ahead
Bitcoin would need to avoid a fall through the $59,857 pivot to bring the first major resistance level at $61,347 into play.
Support from the broader market would be needed for Bitcoin to break out from Wednesday’s high $60,851.0.
Barring a broad-based crypto rally, the first major resistance level would likely cap the upside.
In the event of an extended rally, Bitcoin could test resistance at $63,000 levels before easing back. The second major resistance level sits at $62,340.
A fall through the $59,857 pivot would bring the first major support level at $58,864 into play.
Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$57,000 levels. The second major support level at $57,374 should limit the downside.
This article was originally posted on FX Empire