The Crypto Daily – Movers and Shakers – November 4th, 2021

Bitcoin, BTC to USD, fell by 0.55% on Wednesday. Partially reversing a 3.82% rally from Tuesday, Bitcoin ended the day at $62,900.0.

A bullish start to the day saw Bitcoin rise to an early morning intraday high $63,565.0 before hitting reverse.

Falling short of the first major resistance level at $64,806, Bitcoin slid to a late afternoon intraday low $60,175.0.

Bitcoin fell through the first mayor support level at $61,176 before briefly revisiting $63,300 levels.

A late pullback, however, saw Bitcoin fall back to sub-$63,200 levels and into the red.

The near-term bullish trend remained intact, supported the latest return to $66,000 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 Wednesday.

Chainlink fell by 0.90% to join Bitcoin in the red.

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

Ripple’s XRP rallied by 6.61% to lead the way, with Cardano’s ADA (+4.65%) and Polkadot (+3.77%) also finding strong support.

Binance Coin (+2.52%), Bitcoin Cash SV (+1.43%), Crypto.com Coin (+2.47%), Ethereum (+0.26%), and Litecoin (+3.10%) railed the front runners, however.

In the current week, the crypto total market fell to a Monday low $2,527bn before rising to a Wednesday high $2,801bn. At the time of writing, the total market cap stood at $2,744bn.

Bitcoin’s dominance rose to a Monday high 44.39% before falling to a Wednesday low 42.77%. At the time of writing, Bitcoin’s dominance stood at 43.35%.

This Morning

At the time of writing, Bitcoin was up by 0.18% to $63,015.0. A mixed start to the day saw Bitcoin fall to an early morning low $62,825.0 before rising to a high $63,067.0.

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

Elsewhere, it was a mixed start to the day.

Crypto.com Coin was up by 6.35% to lead the way, with Cardano’s ADA (+1.16%) and Ripple’s XRP (+0.72%) also avoiding the red.

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

At the time of writing, Polkadot was down by 1.53% to lead the way down.

For the Bitcoin Day Ahead

Bitcoin would need to avoid the $62,213 pivot to bring the first major resistance level at $64,252 into play.

Support from the broader market would be needed for Bitcoin to break out from $63,500 levels.

Barring a broad-based crypto rally, the first major resistance level would likely cap the upside.

In the event of an extended rally, Bitcoin could test resistance at $68,000 levels before any pullback. The second major resistance level sits at $65,603.

A fall through the $62,213 pivot would bring the first major support level at $60,862 into play.

Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$60,000 levels, however. The second major support level sits at $58,823.

This article was originally posted on FX Empire

More From FXEMPIRE:

https://finance.yahoo.com/news/crypto-daily-movers-shakers-november-003457605.html

Next Post

25-year-old turned side hustle into a 'Beyoncé-approved' luxury brand

When MBA student Wilglory Tanjong launched Anima Iris, her luxury handbag company, two years ago, she just wanted to “start making bags for fun.” Now, her purses are everywhere: online with big retailers like Nordstrom and Revolve, on TV in HBO’s “Insecure” and even on Beyoncé’s Instagram. The bold, geometric […]

Subscribe US Now