The Crypto Daily – Movers and Shakers – June 26, 2021

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The Crypto Daily - Movers and Shakers - June 26, 2021

Bitcoin, BTC to USD, slipped 8.86% on Friday. Bitcoin reversed a 2.87% gain from Thursday, ending the day at $ 31,584.7.

A mixed start to the day resulted in Bitcoin climbing to an early morning intraday high of $ 35,495.0 before entering reverse.

Bitcoin missed the first major resistance level of $ 35,856 and slid to a late intraday low of $ 31,264.0.

The sell-off resulted in Bitcoin breaking the first major support level at $ 32,909 and ending the day at $ 31,500.

Despite the prolonged sell-off, Bitcoin avoided the second major support level at $ 31,152.

The short-term uptrend has remained intact despite the recent drop below $ 30,000. 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 the other majors, Friday was a mixed day for the majors.

Bitcoin Cash SV (+1.72%) and Crypto.com Coin (+ 0.41%) bucked the trend that day.

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

Chainlink led the way down, down 11.10%.

Binance Coin (-8.94%), Cardanos ADA (-7.89%), Ethereum (-9.04%), Litecoin (-7.09%) and Ripple’s XRP (-9.39%) also posted strong figures Losses.

Polkadot fell a more modest 2.43% that day.

For the current week, the overall crypto market soared to a Monday high of $ 1,488 billion before falling to a low of $ 1,129 billion on Tuesday. At the time of writing, its total market cap was $ 1,278 billion.

Bitcoin’s dominance fell to a Monday low of 45.03% before rising to a Wednesday high of 48.28%. At the time of writing, Bitcoin was dominant at 46.86%.

This morning

At the time of writing, Bitcoin was up 0.87% to $ 31,859.0. A mixed start to the day caused Bitcoin to hit an early morning low of $ 31,300.0 before rising to a high of $ 32,180.0.

Bitcoin left key support and resistance levels untested early on.

Elsewhere it was a mixed start to the day.

Crypto.com Coin bucked the trend early, slipping 3.05%.

It was a bullish start for the rest of the majors, however.

The story goes on

At the time of writing, Litecoin was up 2.17% to lead the way.

For the coming Bitcoin day

Bitcoin would have to move through the $ 32,781 pivot to bring into play the first major resistance level at $ 34,299.

In order for Bitcoin to break back to a level of $ 34,000, support from the broader market would be required.

Aside from a broad crypto rebound, the first major resistance level and resistance at $ 35,000 would likely limit any uptrend.

In the event of an extended crypto rally, Bitcoin could test the second major resistance level at $ 37,012.

If the $ 32,781 pivot is not broken, the first major support level at $ 30,068 would come into play.

Aside from another lengthy sell-off that day, Bitcoin should avoid the second major support level at $ 28,550.

This article was originally published on FX Empire

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