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The Crypto Daily – Movers and Shakers – June 21st, 2021

Bob Mason
·3 min read

Bitcoin, BTC to USD, rose by 0.17% on Sunday. Following a 0.77% decline on Saturday, Bitcoin ended the week down by 8.64% to $35,631.0.

A mixed start to the day saw Bitcoin rise to a mid-morning high $35,983.0 before hitting reverse.

Falling short of the major resistance levels, Bitcoin slid to midday intraday low $33,411.0.

Bitcoin fell through the first major support level at $34,777 and the second major support level at $33,984.

Finding afternoon support, however, Bitcoin rallied to a late intraday high $36,226.4.

Falling short of the first major resistance level at $36,405, Bitcoin slipped back to end the day at sub-$36,000 levels.

The near-term bullish trend remained intact in spite of the latest slide back to $33,000 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 mixed day on Sunday.

Bitcoin Cash SV and Crypto.com Coin slid by 4.36% and by 5.78% to buck the trend on the day.

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

Chainlink rallied by 6.79% to lead the way.

Cardano’s ADA (+2.97%) and Ethereum (+3.59%) also found strong support.

Binance Coin (+1.53%), Litecoin (+1.50%), Polkadot (+1.75%), and Ripple’s XRP (+2.07%) trailed the front runners, however.

It was also a mixed week for the majors, in the week ending 20th June.

Polkadot bucked the trend in the week, rising by 2.62%.

It was a bearish week for the rest of the majors, however, which joined Bitcoin in the red.

Ripple’s XRP slid by 12.32% to lead the way down, with Ethereum and Litecoin falling by 10.65% and by 9.44% respectively.

Binance Coin (-7.35%), Bitcoin Cash SV (-8.95%), Cardano’s ADA (-8.41%), Chainlink (-7.26%), and Crypto.com Coin (-7.62%) also struggled, however.

In the week, the crypto total market rose to a Tuesday high $1,708bn before falling to a Sunday low $1,367bn. At the time of writing, the total market cap stood at $1,462bn.

Bitcoin’s dominance rose to a Wednesday high 46.26% before falling to a Sunday low 45.04%. At the time of writing, Bitcoin’s dominance stood at 45.25%.

This Morning

At the time of writing, Bitcoin was down by 0.79% to $35,351.0. A mixed start to the day saw Bitcoin rise to an early morning high $35,832.0 before falling to a low $35,332.0.

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

Elsewhere, it was a mixed start to the day.

Crypto.com Coin found early support, rising by 2.40%.

It’s been a bearish start for the rest of the majors, however.

At the time of writing, Ripple’s XRP and Chainlink were down by 1.38% and by 1.33% respectively to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $35,090 pivot to bring the first major resistance level at $36,768 into play.

Support from the broader market would be needed for Bitcoin to break out from Sunday’s high $36,226.4.

Barring a broad-based crypto rally, the first major resistance level and resistance at $37,000 would likely cap any upside.

In the event of another extended crypto rally, Bitcoin could test resistance at $39,000 before any pullback. The second major level sits at $37,905.

A fall through the $35,090 pivot would bring the first major support level at $33,953 into play.

Barring another extended sell-off on the day, Bitcoin should steer clear of the second major support level at $32,274.

This article was originally posted on FX Empire

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