The Crypto Daily – Movers and Shakers – June 26th, 2021
Bitcoin, BTC to USD, slid by 8.86% on Friday. Reversing a 2.87% gain from Thursday, Bitcoin ended the day at $31,584.7.
Your capital is at risk
A mixed start to the day saw Bitcoin rise to an early morning intraday high $35,495.0 before hitting reverse.
Falling short of the first major resistance level at $35,856, Bitcoin slid to a late intraday low $31,264.0.
The sell-off saw Bitcoin fall through the first major support level at $32,909 to end the day at $31,500 levels.
In spite of the extended sell-off, Bitcoin avoided the second major support level at $31,152.
The near-term bullish trend remained intact in spite of the latest slide back to sub-$30,000 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 for the majors on Friday.
Bitcoin Cash SV (+1.72%) and Crypto.com Coin (+0.41%) bucked the trend on the day.
It was a bearish day for the rest of the majors, however.
Chainlink led the way down, sliding by 11.10%.
Binance Coin (-8.94%), Cardano’s ADA (-7.89%), Ethereum (-9.04%), Litecoin (-7.09%), and Ripple’s XRP (-9.39%) also saw heavy losses.
Polkadot fell by a more modest 2.43% on the day.
In the current week, the crypto total market rose to a Monday high $1,488bn before falling to a Tuesday low $1,129bn. At the time of writing, the total market cap stood at $1,278bn.
Bitcoin’s dominance fell to a Monday low 45.03% before rising to a Wednesday high 48.28%. At the time of writing, Bitcoin’s dominance stood at 46.86%.
This Morning
At the time of writing, Bitcoin was up by 0.87% to $31,859.0. A mixed start to the day saw Bitcoin fall to an early morning low $31,300.0 before rising to a high $32,180.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Crypto.com Coin bucked the trend early on, sliding by 3.05%.
It was a bullish start for the rest of the majors, however.
At the time of writing, was Litecoin was up by 2.17% to lead the way.
For the Bitcoin Day Ahead
Bitcoin would need to move through the $32,781 pivot to bring the first major resistance level at $34,299 into play.
Support from the broader market would be needed for Bitcoin to break back through to $34,000 levels.
Barring a broad-based crypto rebound, the first major resistance level and resistance at $35,000 would likely cap any upside.
In the event of an extended crypto rally, Bitcoin could test the second major resistance level at $37,012.
Failure to move through the $32,781 pivot would bring the first major support level at $30,068 into play.
Barring another extended sell-off on the day, Bitcoin should steer clear of the second major support level at $28,550.