The Crypto Daily – Movers and Shakers – June 30th, 2021
Bitcoin, BTC to USD, rose by 4.14% on Tuesday. Reversing a 0.72% loss from Monday, Bitcoin ended the day at $35,922.4.
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A mixed start to the day saw Bitcoin fall to an early morning intraday low $34,226.8 before making a move.
Steering clear of the first major support level at $33,821, Bitcoin rallied to a late afternoon intraday high $36,600.0.
Bitcoin broke through the first major resistance level at $35,243 and the second major resistance level at $35,992.
A bearish end to the day, however, saw Bitcoin fall back through the second major resistance level to end the day at $35,920 levels.
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 on Tuesday.
Bitcoin Cash SV slid by 8.94%, with Polkadot (-0.85%) also seeing red.
It was a bullish day for the rest of the majors, however.
Crypto.com Coin and Ripple’s XRP rallied by 8.66% and by 9.64% to lead the way.
Binance Coin (+3.74%), Cardano’s ADA (+3.57%), Chainlink (+3.77%), Ethereum (+3.95), and Litecoin (+4.71%) also found solid support.
Early in the week, the crypto total market fell to a Monday low $1,342bn before rising to a Tuesday high $1,485bn. At the time of writing, the total market cap stood at $1,432bn.
Bitcoin’s dominance rose to a Monday high 47.67% before falling to a Tuesday low 46.26%. At the time of writing, Bitcoin’s dominance stood at 46.90%.
This Morning
At the time of writing, Bitcoin was down by 0.34% to $35,802.0. A mixed start to the day saw Bitcoin rise to an early morning high $35,968.0 before falling to a low $35,802.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a bearish start to the day.
At the time of writing, Crypto.com Coin was down by 2.12% to lead the way down.
For the Bitcoin Day Ahead
Bitcoin would need to avoid the $35,583 pivot to bring the first major resistance level at $36,939 into play.
Support from the broader market would be needed for Bitcoin to break out from Tuesday’s high $36,600.0.
Barring a broad-based crypto rebound, the first major resistance level and resistance at $37,000 would likely cap any upside.
In the event of an extended crypto rally, Bitcoin could test resistance at $40,000. The second major resistance level sits at $37,956.
A fall through the $35,583 pivot would bring the first major support level at $34,566 into play.
Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$34,000 levels. The second major support level sits at $33,210.