Yahoo Finance The Crypto Daily – Movers and Shakers – June 14th, 2021
Bitcoin, BTC to USD, rallied by 9.66% on Sunday. Reversing a 4.75% slide from Saturday, Bitcoin ended the week up by 9.0% to $38,998.9.
A mixed start to the day saw Bitcoin fall to an early morning intraday low $34,800.0 before making a move.
Steering clear of the first major support level at $34,309, Bitcoin surged to a late intraday high $39,374.0.
Bitcoin broke through the first major resistance level at $37,140 and the second major resistance level at $38,716.
Falling short of $40,000 levels, however, Bitcoin eased back to end the day at sub-$39,000 levels.
The second major resistance level delivered support late in the day.
The near-term bullish trend remained intact supported by the latest move back through to $39,000 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 Sunday.
Polkadot fell by 3.22% to buck the trend on the day.
It was a bullish day for the rest of the majors, however.
Chainlink rallied by 7.90% to lead the way.
Binance Coin (+6.45%) and Ripple’s XRP (+6.20%) weren’t far behind.
Bitcoin Cash SV (+3.25%), Cardano’s ADA (+5.25%), Ethereum (+5.83%), and Litecoin (+5.66%) also found strong support, while Crypto.com Coin (+0.89%) trailed.
While it was a bullish end to the week, it was a bearish week for the majors.
Polkadot and Chainlink led the way down, sliding by 16.39% and by 15.16% respectively.
Binance Coin (-7.06%), Bitcoin Cash SV (-6.83%), Cardano’s ADA (-7.17%), Crypto.com Coin (-8.51%), Ethereum (-7.40%), and Ripple’s XRP (-6.67%) also struggled.
Litecoin saw a more modest 3.04% loss in the week, however.
In the week, the crypto total market rose to a Monday high $1,670bn before falling to a Tuesday low $1,374bn. At the time of writing, the total market cap stood at $1,606bn.
Bitcoin’s dominance fell to a Monday low 41.28% before rising to a Friday high 45.65%. At the time of writing, Bitcoin’s dominance stood at 45.52%.
This Morning
At the time of writing, Bitcoin was up by 0.03% to $39,008.9. A mixed start to the day saw Bitcoin rise to an early morning high $39,235.9 before falling to a low $38,782.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Crypto.com Coin found support early on, rallying by 6.11% to join Bitcoin in the green.
It was a relatively bearish start for the rest of the majors, however.
At the time of writing, Polkadot was down by 0.67% to lead the way down.
For the Bitcoin Day Ahead
Bitcoin would need to avoid the $37,724 pivot to bring the first major resistance level at $40,649 into play.
Support from the broader market would be needed for Bitcoin to break out from Sunday’s high $39,374.0.
Barring a broad-based crypto rally, the first major resistance level and resistance at $41,000 would likely cap any upside.
In the event of another extended crypto rally, Bitcoin could test resistance at $43,000 before any pullback. The second major resistance level sits at $42,298. Bitcoin would need plenty of support, however, to breakout from the 38.2% FIB of $41,592.
A fall through the $37,724 pivot would bring the first major support level at $36,075 into play.
Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$35,000 levels. The second major support level sits at $33,150.
This article was originally posted on FX Empire
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