Yahoo Finance The Crypto Daily – Movers and Shakers – April 18th, 2021
Bitcoin, BTC to USD, fell by 2.27% on Saturday. Following on from a 2.98% decline on Friday, Bitcoin ended the day at $59,927.0.
A bullish start to the day saw Bitcoin rise to an early morning intraday high $62,450.0 before hitting reverse.
Falling short of the first major resistance level at $63,226, Bitcoin slid to a late afternoon intraday low $59,662.0.
Bitcoin fell through the first major support level at $59,711 before briefly revisiting $60,900 levels.
A bearish end to the day, however, saw Bitcoin fall back to end the day at sub-$60,000 levels.
The near-term bullish trend remained intact supported by the latest move through to $64,000 levels. For the bears, Bitcoin would need to slide 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 Saturday.
Polkadot rallied by 3.87% to lead the way, with Binance Coin rising by 1.08%.
It was a bearish day for the rest of the majors, however.
Bitcoin Cash SV slid by 10.95% to lead the way down.
Cardano’s ADA (-3.18%), Chainlink (-4.89%), Ethereum (-4.45%), and Litecoin (-2.51%) also struggled.
Crypto.com Coin (-0.08%) and Ripple’s XRP (-0.62%) saw modest losses on the day, however.
In the current week, the crypto total market fell to a Monday low $1,959bn before rising to a Friday high $2,305bn. At the time of writing, the total market cap stood at $2,136bn.
Bitcoin’s dominance rose to a Monday high 56.61% before falling to a Saturday low 51.38%. At the time of writing, Bitcoin’s dominance stood at 52.85%.
This Morning
At the time of writing, Bitcoin was up by 0.46% to $60,205.0. A mixed start to the day saw Bitcoin fall to an early morning low $59,934.0 before rising to a high $60,279.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a bullish start to the day.
At the time of writing, Ripple’s XRP was up by 1.42% to lead the way.
For the Bitcoin Day Ahead
Bitcoin would need to move through the pivot level at $60,680 to bring the first major resistance level at $61,697 into play.
Support from the broader market would be needed for Bitcoin to break out from $61,500 levels.
Barring an extended crypto rally, the first major resistance level and Saturday’s high $62,450.0 would likely cap any upside.
In the event of an extended crypto rally, Bitcoin could test resistance at Wednesday’s swing hi $64,829.0 before any pullback. The second major resistance level sits at $63,468.
Failure to move through the $60,680 pivot would bring the first major support level at $58,909 into play.
Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$58,000 levels. The second major support level sits at $57,892.
This article was originally posted on FX Empire
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