The Crypto Daily – Movers and Shakers – April 11th, 2021
Bitcoin, BTC to USD, rose by 2.89% on Saturday. Following on from a 0.04% gain on Friday, Bitcoin ended the day at $59,812.0.
A mixed start to the day saw Bitcoin fall to an early morning intraday low $57,900.0 before making a move.
Steering clear of the first major support level at $57,602, Bitcoin rallied to an early morning intraday high $61,243.0.
Bitcoin broke through the day’s major resistance levels to come within range of the March swing hi $61,699.0 before hitting reverse.
The reversal saw Bitcoin slide back to sub-$58,500 levels before finding support.
Bitcoin broke back through the first major resistance level at $58,777 and the second major resistance level at $59,420 to end the day at $59,800 levels.
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 Saturday.
Polkadot fell by 0.88% to buck the trend on the day.
It was a bullish day for the rest of the majors, however.
Ripple’s XRP surged by 34.82% to lead the way, with Litecoin rallying by 15.75%.
Binance Coin (+3.96%), Crypto.com Coin (+2.81%), and Ethereum (+3.22%) made relatively solid gains.
Bitcoin Cash SV (+0.32%), Cardano’s ADA (+1.21%), and Chainlink (+1.03%) trailed the front runners, however.
In the current 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 $2,010bn.
Bitcoin’s dominance rose to a Monday high 58.43% before falling to a Saturday low 55.40%. At the time of writing, Bitcoin’s dominance stood at 56.29%.
This Morning
At the time of writing, Bitcoin was up by 1.22% to $60,541.0. A mixed start to the day saw Bitcoin fall to an early morning low $59,651.0 before rising to a high $60,624.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Binance Coin (-0.12%), Litecoin (-1.77%), and Polkadot (-2.42%) saw red to buck the trend early on.
It was a bullish start for the rest of the majors, however.
At the time of writing, Ripple’s XRP was up by 4.74% to lead the way.
For the Bitcoin Day Ahead
Bitcoin would need to avoid a fall back through the pivot level at $59,652 to bring the first major resistance level at $61,403 into play.
Support from the broader market would be needed for Bitcoin to break out from Saturday’s high $61,243.0.
Barring an extended crypto rally, the first major resistance level and resistance at the March swing hi $61,699 would likely cap any upside.
In the event of another extended crypto rally, Bitcoin could test resistance at $65,000 before any pullback. The second major resistance level sits at $62,995.
Failure to avoid a fall back through the $59,652 pivot would bring the first major support level at $58,060 into play.
Barring another extended sell-off on the day, Bitcoin should steer well clear of the second major support level at $56,309.
This article was originally posted on FX Empire
