The Crypto Daily – Movers and Shakers – November 12th, 2021
Bitcoin, BTC to USD, slipped by 0.12% on Thursday. Following a 3.09% slide from Wednesday, Bitcoin ended the day at $64,791.0.
A mixed start to the day saw Bitcoin fall to an early morning intraday low $64,079.0 before making a move.
Steering clear of the first major support level at $62,172, Bitcoin rose to a late morning intraday high $65,541.0.
Falling well short of the first major resistance level at $68,264, however, Bitcoin fell back to sub-$64,500 levels before finding support.
A late move back through to $65,000 was short-lived, however, with Bitcoin falling back to sub-$65,000 levels and into the red.
The near-term bullish trend remained intact, supported Wednesday’s ATH $68,958.
The Rest of the Pack
Across the rest of the majors, it was a mixed day on Thursday.
Crypto.com Coin slid by 5.62% to lead the way down. Bitcoin Cash SV (-2.05%) and Cardano’s ADA (-0.92%) also joined Bitcoin in the red.
It was a bullish day for the rest of the majors, however.
Binance Coin and Ripple’s XRP rose by 2.28% and by 2.26% respectively to lead the way.
Chainlink (+1.20%), Ethereum (+1.94%), Litecoin (+0.82%), and Polkadot (+1.62%) also found support.
In the current week, the crypto total market rose to a Wednesday high $3,007bn before falling to a Wednesday low $2,657bn. At the time of writing, the total market cap stood at $2,798bn.
Bitcoin’s dominance fell to a Monday low 43.09% before rising to a Wednesday high 44.62%. At the time of writing, Bitcoin’s dominance stood at 43.62%.
This Morning
At the time of writing, Bitcoin was down by 0.06% to $64,751.0. A mixed start to the day saw Bitcoin fall to an early morning low $64,666.0 before rising to a high $64,840.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Binance Coin (+0.38%), Cardano’s ADA (+0.17%), Chainlink (+0.71%), Litecoin (+0.58%), and Ripple’s XRP (+0.72%) found early support.
It was a bearish start for the rest of the majors, however.
At the time of writing, Polkadot was down by 0.20% to lead the way down.
Bitcoin Cash SV (-0.06%) and Ethereum (-0.11%) also joined Bitcoin in the red.
For the Bitcoin Day Ahead
Bitcoin would need to move back through the $64,804 pivot to bring the first major resistance level at $65,528 into play.
Support from the broader market would be needed for Bitcoin to break back through to $65,500 levels.
Barring a broad-based crypto rally, the first major resistance level and Thursday’s high $64,541.0 would likely cap the upside.
In the event of an extended rally, Bitcoin could test resistance at Wednesday’s ATH $68,958. The second major resistance level sits at $66,266, with the third major resistance level at $67,728.
Failure to move back through the $64,804 pivot would bring the first major support level at $64,066 into play.
Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$63,000 levels, however. The second major support level at $63,342 should limit the downside.
This article was originally posted on FX Empire