The Crypto Daily – Movers and Shakers – July 26th, 2021
Bitcoin, BTC to USD, rose by 3.29% on Sunday. Following a 1.87% gain on Saturday, Bitcoin ended the week up by 11.30% to $35,415.
A mixed start to the day saw Bitcoin fall to an early morning intraday low $33,886.0 before making a move.
Steering clear of the first major support level at $33,625, Bitcoin rallied to a final hour intraday high $35,444.0.
Bitcoin broke through the first major resistance level at $34,730 and the second major resistance level at $35,181 to end the day at $35,400 levels.
The near-term bullish trend remained intact, in spite of the latest return to $29,000 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 bullish day on Sunday.
Polkadot slid by 3.32%, with Cardano’s ADA (-0.32%) and Ripple’s XRP (-0.48%) also seeing red to buck the trend.
It was a bullish day for the rest of the majors, however.
Chainlink and Litecoin rose by 1.26% and by 1.32% respectively to lead the way.
Binance Coin (+0.37%), Bitcoin Cash SV (+0.77%), Crypto.com Coin (+0.53%), and Ethereum (+0.29%) saw modest gains, however.
In the week, the crypto total market fell to a Tuesday low $1,154bn before rising to a Sunday high $1,430bn. At the time of writing, the total market cap stood at $1,426bn.
Bitcoin’s dominance rose to a Tuesday high 47.63% before falling to a Thursday low 45.91%. At the time of writing, Bitcoin’s dominance stood at 47.03%.
This Morning
At the time of writing, Bitcoin was up by 0.93% to $35,745.0. A mixed start to the day saw Bitcoin fall to an early morning low $35,233.0 before rising to a high $35,886.0.
Bitcoin left the major support and resistance levels untested early on.
Elsewhere, it was a mixed start to the day.
Polkadot was down by 0.04% early on to buck the trend.
It was a bullish start for the rest of the majors.
At the time of writing, Bitcoin Cash SV was up by 3.82% to lead the way.
For the Bitcoin Day Ahead
Bitcoin would need to avoid the $34,915 pivot to bring the first major resistance level at $35,944 into play.
Support from the broader market would be needed for Bitcoin to break out from this morning’s high $35,886.0.
Barring a broad-based crypto rally, the first major resistance level and resistance at $36,000 would likely cap any upside.
In the event of another extended crypto rally, Bitcoin could test resistance at $37,500 before any pullback. The second major resistance level sits at $36,473.
A fall through the $34,915 pivot would bring the first major support level at $34,386 into play.
Barring an extended sell-off on the day, Bitcoin should steer clear of sub-$33,000 levels. The second major support level at $33,357 should limit the downside.
This article was originally posted on FX Empire
