The Crypto Daily – Movers and Shakers – June 20, 2021

The Crypto Daily - Movers and Shakers - June 20, 2021

Bitcoin, BTC to USD, fell 0.77% on Saturday. After falling 5.85% on Friday, Bitcoin ended the day at $ 35,570.0.

A mixed start to the day resulted in Bitcoin falling from an early high of $ 36,316.0 to an early morning intraday low of $ 34,819.0.

To bypass the first major support level at $ 34,593, Bitcoin rose to a midday high of $ 36,447.0.

Bitcoin fell well short of the first major resistance level of $ 37,640 and slipped back and into the red to the $ 35,500 level.

The short-term uptrend remained intact despite the recent decline to the $ 35,000 level. For the bears, Bitcoin would need a sustained drop through the 62% FIB of $ 27,237 to form a short-term downtrend.

The rest of the package

For all the other majors it was a mixed day on Saturday.

Bitcoin Cash SV and Coin rose 3.58% and 2.79%, respectively, to counter the trend of the day.

For the other majors, however, it was a bearish day.

Polkadot fell 4.80% to lead the way down, with Chainlink and Ripple’s XRP (-X%) ending the day 4.40% and 4.46% respectively.

Cardanos ADA (-2.27%), Ethereum (-3.14%) and Litecoin (-2.50%) also had problems.

Binance Coin posted a more modest loss of 0.97%.

For the current week, the overall crypto market rose to a Tuesday high of $ 1,708 billion before falling to a Friday low of $ 1,435 billion. At the time of writing, its total market cap was $ 1,454 billion.

Bitcoin’s dominance rose to a Wednesday high of 46.26% before falling to a Saturday low of 45.05%. At the time of writing, Bitcoin was dominant at 45.61%.

This morning

At the time of writing, Bitcoin is down 0.24% to $ 35,484.2. After a mixed start to the day, Bitcoin rose to an early morning high of $ 35,736.0 before falling to a low of $ 35,330.0.

Bitcoin left key support and resistance levels untested early on.

Elsewhere it was a bearish start to the day.

At the time of writing, Coin was down 3.07% to lead the way down.

For the coming Bitcoin day

Bitcoin would have to move back through the $ 35,612 pivot to bring into play the first major resistance level at $ 36,405.

The story goes on

In order for Bitcoin to break back to the $ 36,000 level, support from the broader market would be required.

A broad crypto rally aside, the first major resistance level and Saturday’s high at $ 36,447.0 would likely limit any uptrend.

In the event of another extended crypto rally, Bitcoin could test resistance at $ 38,000 before retreating. The second major level is at $ 37,240.

Failing to break the $ 35,612 pivot again, the first major support level at $ 34,777 would come into play.

Aside from another lengthy sell-off that day, Bitcoin should stay away from under $ 34,000. The second major level of support is at $ 33,984.

This article was originally published on FX Empire

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