The Crypto Daily – Movers and Shakers – September 29, 2021

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Bitcoin, BTC to USD, fell 2.65% on Tuesday. After a loss of 2.33% on Monday, Bitcoin ended the day at $ 41,064.0.

A bullish start to the day saw Bitcoin hit an early morning intraday high of $ 42,777.0 before reversing.

Below the first major resistance level at $ 43,646, Bitcoin slipped to an intraday low of $ 40,928.0.

Bitcoin fell through the 38.2% FIB of $ 41,592 and the first major support level at $ 41,425 to end the day at levels below $ 41,100.

The short-term uptrend has remained intact, despite the latest return to levels below $ 40,000. For bears, Bitcoin would need a sustained decline through the 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 bearish day on Tuesday.

Crypto.com coin slipped 6.28% to lead the way on the downside.

Chain link (-4.25%), The Cardano ADA (-4.43%), Ethereum (-4.12%), Litecoin (-3.12%), and Ripple’s XRP (-3.07%) also experienced difficulties.

Binance Coin (-0.73%), Bitcoin Cash SV (-1.78%), Polkadot (-2.48%) and however suffered relatively modest losses.

At the start of the week, the total crypto market peaked at $ 2.014 billion on Monday before falling to a low on Tuesday of $ 1,809 billion. At the time of writing, the total market capitalization was $ 1.829 billion.

Bitcoin’s dominance fell to a Monday low of 41.46% before hitting a Tuesday high of 42.56%. At the time of writing this article, Bitcoin’s dominance stands at 42.24%.

This morning

As of this writing, Bitcoin was down 0.11% at $ 41,017.5. A mixed start to the day saw Bitcoin fall to a low of $ 40,991.0 early in the morning before climbing to $ 41,208.0.

Bitcoin left major support and resistance levels untested early on.

Elsewhere, it was a mixed start to the day.

Bitcoin Cash SV (-0.85%), Cardano’s ADA (-0.12%) and Crypto.com Coin (-1.25%) joined Bitcoin in the red from the start.

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

At the time of writing, Chainlink was up 0.65% to lead the way.

For Bitcoin Day Ahead

Bitcoin would need to break through the pivot of $ 41,590 and the 38.2% FIB of $ 41,592 to bring into play the first major resistance level at $ 42,251.

Broad market support would be needed for Bitcoin to return to levels of $ 42,000.

Barring a large scale crypto rally, the first major resistance level and Tuesday’s $ 42,777.0 high would likely cap the upside.

In the event of a large-scale crypto rally, Bitcoin could test resistance at levels of $ 44,000 before any pullback. The second major resistance level is located at $ 43,439.

Failure to break through the pivot of $ 41,590 and 38.2% WIF of $ 41,592 would bring into play the first major support level at $ 40,402.

Barring another extended sale that day, Bitcoin is expected to avoid the $ 39,000. The second major support level at $ 39,741 should limit the decline.

This item was originally posted on FX Empire

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