The Crypto Daily – Movers and Shakers – April 12th, 2021

Bob Mason
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Bitcoin, BTC to USD, rose by 0.36% on Sunday. Following on from a 2.89% gain on Saturday, Bitcoin ended the week up by 3.08% to $60,032.0.

A bullish start to the day saw Bitcoin rise to an early morning intraday high $60,722.0 before hitting reverse.

Falling short of the first major resistance level at $61,403, Bitcoin fell to an early afternoon intraday low $59,308.0.

Steering clear of the first major support level at $58,060, Bitcoin revisited $60,200 levels before easing back.

The near-term bullish trend remained intact supported by the latest move back through to $61,000 levels. For the bears, Bitcoin would need to slide through the 62% FIB of $26,041 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.

Crypto.com Coin fell by 2.32% to lead the way down.

Litecoin (-1.49%), Polkadot (-1.02%), and Ripple’s XRP (-1.32%) also saw red.

It was a bullish day for the rest of the majors, however.

Binance Coin rallied by 11.55% to lead the way.

Cardano’s ADA (+3.81%) and Chainlink (+6.00%) also making solid gains.

Bitcoin Cash SV (+1.59%), and Ethereum (+0.82%) also joined Bitcoin in the green.

For the week, it was also mixed for the majors.

Polkadot slid by 9.51%, with Crypto.com Coin falling by 0.19% to buck the trend.

It was a bullish week for the rest of the majors.

Ripple’s XRP led the way, surging by 113.1%, with Binance Coin jumping by 50.6%.

Bitcoin Cash SV (+20.59%) and Litecoin (+24.81%) also made solid gains in the week.

Cardano’s ADA (+6.84%), Chainlink (+10.03%), and Ethereum (+3.58%) trailed the front runners, however.

In the week, the crypto total market fell to a Wednesday low $1,782bn before rising to a Saturday high $2,064bn. At the time of writing, the total market cap stood at $2,000bn.

Bitcoin’s dominance rose to a Monday high 58.43% before falling to a Sunday low 55.13%. At the time of writing, Bitcoin’s dominance stood at 55.70%.

This Morning

At the time of writing, Bitcoin was down by 0.49% to $59,738.1. A mixed start to the day saw Bitcoin rise to an early morning high $60,406.0 before falling to a low $59,669.0.

Bitcoin left the major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Bitcoin Cash SV (+0.41%), Cardano’s ADA (+0.86%), and Crypto.com Coin (+0.90%) bucked the trend early on.

It was a bearish start for the rest of the majors, however.

At the time of writing, Litecoin was down by 1.08% to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to move back through the pivot level at $60,021 to bring the first major resistance level at $60,733 into play.

Support from the broader market would be needed for Bitcoin to break through Sunday’s high $60,722.0.

Barring an extended crypto rally, the first major resistance level and resistance $61,000 would likely cap any upside.

In the event of another extended crypto rally, Bitcoin could test resistance at the March swing hi $61,699 before any pullback. The second major resistance level sits at $61,435.

Failure to move back through the $60,021 pivot would bring the first major support level at $59,319 into play.

Barring another extended sell-off on the day, Bitcoin should steer well clear of the second major support level at $58,607.

This article was originally posted on FX Empire

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