Yahoo Finance The Crypto Daily – Movers and Shakers – October 25th, 2021
Bitcoin, BTC to USD, fell by 0.73% on Sunday. Partially reversing a 0.98% decline from Saturday, Bitcoin ended the week down by 1.07% to $60,847.0.
A mixed start to the day saw Bitcoin rise to an early morning intraday high $61,476.0 before hitting reverse.
Falling short of the first major resistance level at $62,126, Bitcoin slid to a late afternoon intraday low $59,533.0.
Bitcoin fell through the first major support level at $60.117 before a partial recovery to end the day at $61,800 levels.
The near-term bullish trend remained intact, supported the latest return to $66,000 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 bearish day on Sunday.
Chainlink slid by 5.32% to lead the way down.
Binance Coin (-2.02%), Cardano’s ADA (-2.22%), Ethereum (-2.53%), Litecoin (-2.99%) and Polkadot (-3.08%) also struggled.
Bitcoin Cash SV (-0.37%), Crypto.com Coin (-0.71%), and Ripple’s XRP (-1.04%) saw relatively modest losses, however.
While it was a bearish end to the week, it was a mixed week for the majors in the week ending 24th October.
Cardano’s ADA (-1.80%) and Ripple’s XRP (-0.86%) saw red to buck the broader market trend.
It was a bullish week for the rest of the majors, however.
Chainlink rallied by 12.17% to lead the way, with Ethereum (+6.12%) and Litecoin (+3.67%) also finding strong support.
Binance Coin (+1.03%), Bitcoin Cash SV (+1.68%), Crypto.com Coin (+0.97%), and Polkadot (+1.55%)
In the week, the crypto total market fell to a Monday low $2,386bn before rising to a Thursday high $2,741bn. At the time of writing, the total market cap stood at $2,549bn.
Bitcoin’s dominance rose to a Wednesday high 47.72% before falling to a Sunday low 44.39%. At the time of writing, Bitcoin’s dominance stood at 44.98%.
This Morning
At the time of writing, Bitcoin was down by 0.08% to $60,799.0. A mixed start to the day saw Bitcoin rise to an early morning high $60,911.7 before falling to a low $60,632.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Chainlink (-0.13%), Litecoin (-0.08%), Ripple’s XRP (-0.38%) joined Bitcoin in the red.
It was a bullish start for the rest of the majors, however.
At the time of writing, Crypto.com Coin was up by 0.36% to lead the way.
For the Bitcoin Day Ahead
Bitcoin would need to avoid the $60,618 pivot to bring the first major resistance level at $61,704 into play.
Support from the broader market would be needed for Bitcoin to break out from Sunday’s high $61,476.0.
Barring a broad-based crypto rally, the first major resistance level would likely cap the upside.
In the event of another breakout, Bitcoin could test resistance at $63,500 levels before any pullback. The second major resistance level sits at $62,562.
A fall through the $60,619 would bring the first major support level at $59,761 into play.
Barring another extended sell-off on the day, Bitcoin should steer clear of sub-$59,000 levels, however. The second major support level sits at $58,676.
This article was originally posted on FX Empire
