The Crypto Daily – Movers and Shakers – October 26, 2021

0

Bitcoin, BTC to USD, rose 3.73% on Monday. Reversing a loss of 0.73% from Sunday, Bitcoin ended the day at $ 63,100.00.

A mixed start to the day saw Bitcoin fall to an early morning intraday low of $ 60,632.0 before taking a step.

Away from the first major support level at $ 59,761, Bitcoin rallied to an intraday high of $ 63,666.0 in the late afternoon.

Bitcoin broke through the first major resistance level at $ 61,704 and the second major resistance level at $ 62,562.

By the end of the day, Bitcoin briefly fell back to $ 62,500 before ending the day at $ 63,100. The second major resistance level at $ 62,562 provided support late in the day.

The short-term uptrend remained intact, supporting the latest return to levels of $ 66,000. For bears, Bitcoin would need a sustained decline through 62% FIB from $ 27,237 to form a short-term downtrend.

The rest of the pack

In the rest of the majors, it was a bullish day on Monday.

Chain link rebounded 8.94% to lead the way, with Crypto.com coin (+ 5.96%), Ethereum (+ 3.40%), and Litecoin (+ 2.62%) also finding solid support.

Binance Coin (+ 1.94%), Bitcoin Cash SV (+ 0.24%), The Cardano ADA (+ 1.20%), Polkadot (+ 1.58%), and Ripple’s XRP (+ 12%) followed the first, however.

Earlier this week, the total crypto market fell to a low of $ 2.597 billion on Monday before hitting a high of $ 2.649 billion on Monday. At the time of writing, the total market cap was $ 2.634 billion.

Bitcoin’s dominance fell to a Monday morning low of 45.0% before hitting a high of 45.53%. At the time of writing this article, Bitcoin’s dominance stands at 45.08%.

This morning

As of this writing, Bitcoin was down 0.12% to $ 63,021.4. A mixed start to the day saw Bitcoin hit an early morning high of $ 63,158.0 before falling to a low of $ 62,873.0.

Bitcoin left major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Bitcoin Cash SV held off the initial trend, rising 0.08%.

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

At the time of writing, Chainlink was down 0.59% to lead the way.

For Bitcoin Day Ahead

Bitcoin should avoid the $ 62,466 pivot to bring into play the first major resistance level at $ 64,300.

Broad market support would be needed for Bitcoin to break out of Monday’s $ 63,666.0 high.

Barring a large scale crypto rally, the first major resistance level would likely cap the upside.

In the event of another breakout, Bitcoin could test resistance at the second major resistance level at $ 65,500.

A fall through $ 62,466 would bring into play the first major support level at $ 61,266.

Unless another extended sell off that day, however, Bitcoin should avoid levels below $ 60,000. The second major support level is at $ 59,432.

This item was originally posted on FX Empire

More from FXEMPIRE:


Source link

Share.

About Author

Leave A Reply