The Crypto Daily – Movers and Shakers – November 9th, 2021
Bitcoin, BTC to USD, rallied by 6.71% on Monday. Following a 2.88% gain on Sunday, Bitcoin ended the day at $66,526.0.
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Bullish from start to the day, Bitcoin rallied an early morning intraday low $63,277.0 to a late intraday high and a new ATH $67,665.0.
Bitcoin broke through broke through day’s major resistance levels to wrap up the day at $67,500 levels.
The near-term bullish trend remained intact, supported Monday’s ATH $67,665. 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 Monday.
Polkadot bucked the trend once more, falling by 4.23%.
It was a bullish day for the rest of the majors, however.
Crypto.com Coin and Litecoin surged by 17.22% and by 13.29% to lead the way.
Bitcoin Cash SV (+5.77%), Cardano’s ADA (+5.17%), Chainlink (+6.67%), Ethereum (+4.22%), and Ripple’s XRP (+5.06%) also found strong support.
Binance Coin (+0.61%) trailed the front runners, however.
Early in the week, the crypto total market rose from a Monday low $2,743bn to a Monday high $2,960bn. At the time of writing, the total market cap stood at $2,886bn.
Bitcoin’s dominance rose to a Monday high 43.98% before falling to a Monday low 43.09%. At the time of writing, Bitcoin’s dominance stood at 43.97%.
This Morning
At the time of writing, Bitcoin was down by 0.42% to $67,242.0. A bearish start to the day saw Bitcoin fall from an early morning high $67,526.0 to a low $67,120.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Bitcoin Cash SV bucked the early trend, rising by 0.13%.
It was a bearish start for the rest of the majors, however.
At the time of writing, Crypto.com Coin was down by 3.43% to lead the way down.
For the Bitcoin Day Ahead
Bitcoin would need to avoid a fall through the $66,156 pivot to bring the first major resistance level at $69,035 into play.
Support from the broader market would be needed for Bitcoin to break out from Monday’s ATH $67,665.0.
Barring a broad-based crypto rally, the first major resistance level would likely cap the upside.
In the event of an extended rally, Bitcoin could test resistance the second major resistance level at $70,544.
A fall through the $66,156 pivot would bring the first major support level at $64,647 into play.
Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$64,000 levels, however. The second major support level sits at $61,768.